US. Estée Lauder has acquired the Michael Kors fragrance and beauty brand license from American Designer Fragrances, a subsidiary of LVMH Moët Hennessy Louis Vuitton.
Terms of the deal were not disclosed. Michael Kors Fragrances will become part of The Estée Lauder Companies’ Aramis and Designer Fragrances Division, which is led by group president Patrick Bousquet-Chavanne and president, John Karp.
The Michael Kors fragrance business was launched in 2000 with his signature FiFi award-winning women’s fragrance, MICHAEL. MICHAEL for Men was launched in 2001. A new women’s fragrance, KORS Michael Kors, was launched in February 2003. All fragrances, as well as ancillary bath and body products, are currently sold in department stores, specialty stores, at freestanding Michael Kors boutiques and over the Internet. There is some limited travel retail distribution.
“We are very pleased about this new alliance with Michael Kors,” said Bousquet-Chavanne. “We believe that the brand has significant growth potential, and we look forward to a long and productive relationship with Michael and his partners, Lawrence Stroll and Silas Chou, all of whom have tremendous track records. I know we can count on their energy and talent to make this collaboration a great success. The team at American Designer Fragrances has done a very good job developing the Michael Kors concept, and the Michael Kors fragrances have been well-received in the marketplace.”
Camille McDonald, president and ceo of Parfums Givenchy, Guerlain and American Designer Fragrances, said: “We are proud of the successful fragrance business we built with Michael Kors over the past three years, and we know this brand will continue to thrive with its new licensing partner.”
She continued: “We remain focused on maximizing the US growth potential of the legendary Parfums Givenchy and Guerlain fragrance brands and on the continued development of our American Designer Fragrances portfolio, all of which will launch new scents over the next twelve months.”
Michael Kors stated: “I am so thrilled to become part of The Estée Lauder Companies. They are truly the bell-weather in the beauty business. It’s what everyone else aspires to become. I know that with their expertise, my fragrance business is in the best of hands.”
“Silas and I approached The Estée Lauder Companies about partnering with us to take Michael’s fragrance business to the next level, and together we are mapping out a long-term strategy to strengthen the brand and remain true to Michael’s vision,” said Lawrence Stroll, co-chairman of Michael Kors. “We were the company’s first designer licensor with Tommy Hilfiger, and we look forward to new opportunities ahead with the Michael Kors business.”
“Michael is a leader in the fashion world, and the Michael Kors fragrances further strengthen our position in the designer fragrance arena,” said John Karp. “This will be a powerful complement to our other designer licenses – Donna Karan, Tommy Hilfiger and Kate Spade – each of which represents a unique and highly successful business.”
Editor’s note: Michael Kors is one of the leading American designers for luxury sportswear. His range of products through his Collection and KORS Michael Kors labels includes women’s and men’s ready to wear; women’s shoes, handbags and eyewear, as well as a full line of fragrance and beauty products for both men and women. His products are available at leading department and specialty stores.
