Coty has renewed its long term licence agreement with premium sports brand Adidas.
The beauty giant’s ongoing partnership will continue to focus on delivering beauty and fragrance products for the activewear brand that merge personal care, wellness and sports lifestyle.
This includes “pioneering research and innovation into areas such as the impact of fragrance on sports performance,” read a statement from Coty.
The terms of the beauty and fragrance firm’s licensing deal have not been disclosed.
“Adidas is perfectly positioned to capitalise on the new wellbeing and athleisure trend in beauty among today’s consumers,” said Coty CEO Sue Nabi.
“In recent months, we have successfully elevated the body care equity of Adidas, moving into products that are focused on enhancing sports and skin care credibility.”
Adidas’ Active Skin & Mind range – deodorants and shower products that work together as an active support system – launched in September 2022 and was “positively” received by consumers.
“We are positioning Adidas as a leading premium body care line with superior ingredients and sustainable packaging,” explained Nabi.
Following its successful launch in Europe, Coty plans to build on Adidas’ Active Skin & Mind’s momentum by driving its growth in China.
The company even recently landed Chinese gold medallist in snowboarding Su Yiming as a brand ambassador.
“[We also have] an exciting pipeline of further innovations and lines [for Adidas] as we drive growth in new and existing markets in the future,” added Nabi.
Coty has worked with Adidas for a long time.
It introduced the activewear brand’s first fragrance product – Adidas Moves for Him – in the US in 1999.
Female fragrance Adidas Moves for Her followed in 2000.
Coty has also renewed its fragrance licensing agreement with Swiss luxury cigar brand Davidoff.
Entrepreneur Kim Kardashian is also allegedly in talks to buy back the minority stake in her beauty business SKKN from Coty.
Coty’s beauty portfolio includes brands such as Gucci, Chloé and Marc Jacobs.
