FRANCE. Following the sale of the Michael Kors brand to Estée Lauder earlier this month, Coty has acquired the Kenneth Cole and Marc Jacobs licences.
Coty has signed a contract to acquire the fragrances licences only of Kenneth Cole and Marc Jacobs, two leading US fashion designers, currently held within the American Designer Fragrances division of LVMH.
Lancaster Group Duty Free, the prestige division of Coty, will handle the brands.
Lancaster Group president Michele Scannavini commented: “We see this acquisition as a strong strategic complement to our brand portfolio, with immediate opportunity for the US, where Kenneth Cole and Marc Jacobs enjoy already a leading position among the new generation of fashion designers. We are also excited by the international opportunity longer term, following the widespread appeal of the two designers outside the US.”
Coty ceo Bernd Beetz added: “We are pleased to become partners with two of the most exciting names in the fashion industry. The team at Lancaster Group is looking forward to working with Kenneth and Marc to create new fragrances that will appeal to their existing clientele and beyond. The licences provide us with strong growth opportunities for our American Luxury Brand Unit within Lancaster Group.”
