ITALY. Just one week after ending its long-term fragrance licensing agreement with Unilever Cosmetics International (The Moodie Report, 24 July 2003), Italian fashion house Valentino has a new partner – P&G Prestige Beauté.
The two companies have signed an agreement – effective 1 August 2003 – whereby Procter & Gamble’s fine fragrance division will design and market Valentino fragrance and beauty products on a worldwide basis. The terms of the deal were not disclosed.
The Valentino signing will further beef up P&G Prestige Beauté’s feminine fragrance offering – and strengthen its position within the Italian market.
