Coty to acquire Burberry fragrances, cosmetics & skincare for £130M
Date Posted: Monday 3rd April 2017
Coty Inc. announced today that it has entered into an agreement to acquire the exclusive long-term global license rights for Burberry Beauty luxury fragrances, cosmetics and skincare. Coty will pay a cash consideration of £130M for the long-term exclusive global license. This strategic partnership combines Burberry’s British heritage of innovation, craftsmanship and design with Coty’s expertise and leadership in luxury beauty products. Under the agreement, Coty will develop, manufacture and distribute the full range of Burberry Beauty products globally. The Burberry Beauty business will be managed within Coty’s Luxury division, which is the world leader in prestige fragrance with a growing presence in prestige cosmetics and skincare. Headquartered in Paris, Coty Luxury develops, produces, markets and distributes globally a range of fashion house fragrances including Gucci, Marc Jacobs, Hugo Boss, Calvin Klein, Alexander McQueen, Bottega Veneta and Balenciaga, as well as premium cosmetics and skin care under the philosophy, Lancaster and Gucci brands.