US/CHINA. Coty Inc and Kosé Corp have announced a licensing agreement to distribute and manufacture Rimmel products in China. Financial terms of the transaction were not disclosed.
Distribution is expected to begin in May 2008 with Rimmel cosmetic products, including foundation, lipstick, mascara and eye shadow being imported by Kosé and distributed to select department stores and drugstores, starting in Shanghai.
“By commencing distribution in China, Coty is accelerating the global brand presence of Rimmel and simultaneously continuing the elevation of Coty’s global presence,” commented Coty CEO Bernd Beetz.
“We look forward to bring Rimmel products to China as we focus on accelerating our business growth in Asia.”
Kosé plans to establish Rimmel as a prominent leading brand in China, by combining the Rimmel brand’s distinctive hip and edgy appeal with Kosé’s expertise in developing and launching new products that will be customised to the tastes and make-up style of Chinese women.
This agreement strengthens the existing relationship between Coty and Kosé. In September 2006, Kosé began the distribution of Rimmel products in Japan.
“We are excited to partner once again with Kosé and look forward to continuing our successful business alliance that will continue to leverage Coty’s success in Asia,” added Beetz.
Kosé Corp President Kazutoshi Kobayashi noted: “We are looking forward to expanding our strategic alliance with Coty and building upon our organisations’ collective strength.
“We will combine Rimmel’s unique style with our expertise to develop and launch products that will appeal to the style of Chinese women.”
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