Karl Lagerfeld ends fragrance license with Coty and signs with Interparfums
Strategies were ‘no longer a perfect match’
Karl Lagerfeld BV has ended its fragrance license with Coty BV on mutual terms and has signed a worldwide and exclusive agreement to create, produce and distribute fragrances with Interparfums SA for the next 20 years.
Under the agreement, Coty has exclusive rights to continue selling its existing inventory of products within the Karl Lagerfeld fragrance portfolio. Pier Paolo Righi, president and ceo of Karl Lagerfeld, said: “We have enjoyed an extremely constructive partnership with Coty for many years and do highly appreciate the many achievements during this period. Coty has always been a great partner.”
Jean Mortier, president, Coty Prestige, said: “The working relationship with Karl Lagerfeld and Karl Lagerfeld BV has always been built on mutual respect and professionalism. It was an honour working with a renowned designer such as Karl Lagerfeld, however, it became increasingly apparent that our companies’ respective strategies were no longer a perfect match.”
A new fragrance line has been scheduled for 2014 under the new partnership between Interparfums and Karl Lagerfeld. Phillipe Benacin, chairman of Interparfums, told WWD: “He is one of the most talented designers in the world, if not the most talented, which makes it a huge opportunity to develop fragrance under his name.”
