Beauty powerhouse Coty has renewed its licensing agreement with Davidoff, extending their partnership to more than 20 years.
The renewed agreement allows Coty to update Davidoff’s hero perfume line, Cool Water, and premiumise its fragrance offerings. It will also create new brand innovations and expand Davidoff’s portfolio.
The deal also provides a strong foundation for the brand as it plans to further extend its global footprint.
Coty CEO Sue Y. Nabi said: “We are delighted to renew our highly successful, long-standing partnership with Davidoff. It is a relationship which began in the 1980s and has produced some of the industry’s most iconic scents – from Zino Davidoff to Davidoff Cool Water.
“The significant extension of our agreement represents a deepening of our partnership and lays the foundation for innovation to drive the next phase of growth, built on trust and shared values of diversity and inclusion. It once again demonstrates that Coty is the go-to partner for fashion houses, brands and high-profile individuals that want to create leading beauty portfolios under license.”
Davidoff CEO Adrian Meili also commented: “The Board of Directors and the entire Zino Davidoff team are delighted to extend our successful, longstanding, and deep relationship with COTY. We look forward to continuing our close collaboration with the dedicated Coty Team under Sue Y. Nabi’s inspiring leadership to further rejuvenate the Davidoff Cool Water fragrance line while also working on new innovations in the ongoing spirit of mutual trust and based on shared values.”
Coty was behind the revival of the classic Cool Water brand, which was released more than 30 years ago. It said that last year’s launch of the Davidoff Cool Water Reborn reflects the success of their partnership.
The two companies will continue to explore new and diverse facets of the famous brand.
Following this long-term extension of its licensing agreement with Davidoff, the average remaining duration of Coty’s top seven licences is now about 11 years. These licences represent about 90% of the company’s prestige fragrance business. 
