Coty is preparing to say goodbye to the Gucci licence it has held for the past ten years, with L’Oréal set to take on the Kering-owned brand’s fragrance and beauty development from 2028.
The conglomerate has also faced a setback elsewhere in its fragrance licensing business with the loss of David Beckham’s fragrance line to Interparfums at the start of the year.
The blow comes amid a wider struggle for the business, which is now being turned around by Interim CEO Markus Strobel, who announced the ‘Coty-Curated’ strategy in February.
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The Gucci loss will be “extremely painful and hard to replace,” says Amy Kapolnek, Growth Strategist at consultancy the fwrd group, who has worked with Coty across several fragrance collections including Burberry Her, Marc Jacobs Daisy and CK One, as well as the Gucci Beauty launch in 2019.
“The priority now has to be rebuilding strength across the portfolio rather than trying to find ‘the next Gucci’ overnight,” she says.
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