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Fabrizio Freda: “By applying our skills in execution, product development and marketing, we are confident that we can develop the Zegna fragrance business and add a successful men’s grooming business in the future.” |
INTERNATIONAL. The Estée Lauder Companies has confirmed that its Aramis and Designer Fragrances Division will assume the exclusive worldwide license for the fragrance and grooming business of the Ermenegildo Zegna Group, a one-hundred year old, billion-dollar Milan-based men’s luxury clothing and accessory business. The license is effective 1 July 2011. The terms of the deal were not disclosed.
The Zegna license was previously held by L’Oréal, which acquired it in 2008, as part of its deal to purchase YSL Beauté Holding from previous owner PPR subsidiary Gucci Group.
In a statement, L’Oréal commented: “YSL Beauté (L’Oréal) and Ermenegildo Zegna have agreed by common consent to put an early termination to their existing license agreement for the creation and development of fine fragrances under the Ermenegildo Zegna brand. The license, which was planned to end in April 2013, will terminate on 30 June 2011.
“This move is based on L’Oréal’s Luxury Division objective to focus its men’s perfume business on a number of limited brands which include among others Giorgio Armani, Ralph Lauren, Yves Saint Laurent and Diesel.”
The new agreement gives the Estée Lauder Companies exclusive global rights to market fragrances under the Ermenegildo Zegna Group’s brands, and to develop new product lines in the grooming segment.
“The Ermenegildo Zegna Group and the Estée Lauder Companies share a tradition of serving prestige consumers and retailers over generations of family leadership,” said William P. Lauder, Executive Chairman of the Estée Lauder Companies. “We look forward to working with the Zegnas to create products reflective of our companies’ mutual dedication to quality, continuous innovation and luxury.”
“We are delighted to be working with the Estée Lauder Companies, a world leader in fragrance, cosmetics and skin care, to expand our business,” said Gildo Zegna, Chief Executive Officer of the Ermenegildo Zegna Group. “They share our organisation’s commitment to the highest standards of quality, rooted in strong family values, and a focus on the global luxury market. They are the ideal partner to help us expand the reach and breadth of the Zegna fragrance business and to introduce new product offerings under Zegna’s labels.”
“By applying our skills in execution, product development and marketing, we are confident that we can develop the Zegna fragrance business and add a successful men’s grooming business in the future,” noted Fabrizio Freda, President and Chief Executive Officer of the Estée Lauder Companies. “In addition to expanding our presence in priority luxury markets, particularly in Asia with a focus on high potential growth in China and travel retail, this agreement provides us another exciting and distinctive entry in the men’s business across fragrance and skin care.”
Veronique Gabai-Pinsky, Global Brand President, Aramis and Designer Fragrances concluded: “Ermenegildo Zegna is a wonderful addition to our portfolio of licenses with leading fashion designers. We are looking forward to expanding the brand’s reach and to introducing new products, including new grooming offerings, under the Zegna brand.”
Ermenegildo Zegna clothing and accessories are currently available in selected markets throughout the world, with China as its largest and fastest growing market. Its products are available in luxury retailers and the travel retail channel, as well as in 300 stand-alone stores, where consumers have the opportunity to experience its fragrance products as part of the full Zegna luxury lifestyle experience.
The Ermenegildo Zegna fragrance collection currently includes five popular scents in addition to its centennial celebration fragrance and several special editions.
