Coty has signed a licensing agreement with Etro to produce its fragrance lines.
The beauty giant will develop and distribute all of the luxury Italian fashion house’s fragrance and home scent skus in an agreement that will run “beyond 2040”.
It will also explore breaking into new categories to further grow Etro’s beauty portfolio.
This is Etro’s first beauty licence as its fragrances have been developed in-house until now.
The deal is part of Coty’s strategy to build its reputation as the go-to partner for fashion-driven beauty licences.
“Etro is an iconic brand with a long standing heritage of excellence that is reflected across every facet of its business,” said Coty CEO Sue Nabi.
“This agreement further underscores Coty’s focus on fashion-driven licences with significant multi-category potential which resonate with consumers in our key markets.
“We are excited to… [build] on the brand’s existing beauty offering and bring its unique brand identity to life through new categories and launches.”
Coty has further strengthened its presence in the luxury fragrance sector this month by signing a licensing deal with Italian fashion brand Marni.
As well as renewing its fragrance licence agreements with Dutch fashion label Mexx and German underwear brand Bruno Banani.
This comes as no surprise when demand for luxury fragrance saw the company’s sales surge double digits in the first quarter of 2024.
Etro CEO Fabrizio Cardinali said the partnership marks an “invigorating chapter” for the fashion company as it builds up its beauty offering.
“The collaboration will enable us to leverage synergies between our companies, while taking advantage of Coty’s expertise and industry leading capabilities,” said Cardinali.
Coty also holds licensing deals with Burberry, Gucci, Davidoff and Hugo Boss.