Lacoste has signed a 15-year perfume deal with Interparfums after buying its fragrance licence back from Coty.
The deal with the fragrance giant is effective from 1 January 2024 and includes an entrance fee of €90m.
Interparfums will be responsible for the creation, development, production and marketing of all perfume and cosmetics lines under the Lacoste brand.
The first new Lacoste fragrance line is expected to launch in 2024.
“Interparfums’ proven know-how and creativity will be key assets to continue the development of our fragrance category, which plays a significant role in Lacoste’s reputation,” said Thierry Guibert, President of Lacoste.
Interparfums CEO Philippe Benacin added: “Our common vision will enable us to take an approach that is increasingly in line with the brand’s strong identity codes.
“Lacoste is an emblematic brand in the world of fashion and sport, with a very high level of awareness and desirability throughout the world.
“The management team has a clear and precise vision of the brand’s great development potential, which will allow us to take the perfumes higher and further.”
Why did Coty and Lacoste end their fragrance deal?
Coty sold Lacoste its fragrance licence back by mutual agreement last month after a six-year partnership.
Coty said the sale “advances its strategic objectives” by enabling it to focus on its largest fragrance licences.
Names in the beauty giant’s fragrance portfolio include Marc Jacobs, Miu Miu, Gucci, Calvin Klein and Roberto Cavalli.
Coty originally acquired the fragrance licence for the sports fashion brand from Procter & Gamble (P&G) in 2016.
During this time, the company secured Lacoste’s men's fragrances a premium positioning in the market under two pillars – L'Homme and Match Point.
“We are very proud of the Lacoste fragrance brand and the growth we have achieved through our highly successful partnership over the past six years,” said Sue Y. Nabi, CEO of Coty.
“Lacoste has been a great partner to Coty and their fragrances continue to have outstanding potential.
“For both Coty and Lacoste, the exit by end of CY23 represents our respective, yet mutually beneficial, priorities.”
Guibert said Lacoste is “very appreciative” of Coty's support throughout the partnership.
He added: “With Coty, Lacoste has taken an important step in the development of its fragrance lines.
“It is now time for the brand to renew its approach to continue its growth, in a market where Lacoste still has great potential.”