Tuesday, Coty Inc. (NYSE:COTY) inked a new agreement with luxury Italian fashion house Etro to produce fragrance lines and home scent collections beyond 2040.
Coty will assume the development, production, and distribution of all Etro perfumes and fragrances.
Etro’s renowned fragrance collections span from Shantung to Paisley. The financial terms of the arrangement were not disclosed.
Coty and Etro will work together to explore new categories and innovations to grow the brand’s beauty portfolio, the company said in a press release.
The fresh partnership solidifies Coty’s standing as the preferred collaborator for Fashion Houses and international brands seeking to establish or enhance their beauty collections.
“This agreement further underscores Coty’s focus on fashion driven licenses with significant multi category potential which resonate with consumers in our key markets,” said Sue Nabi, Coty’s CEO.
“The collaboration will enable us to leverage synergies between our companies while taking advantage of Coty’s expertise and industry leading capabilities,” said Fabrizio Cardinali, Etro’s CEO.
Earlier this month, Coty inked a long-term agreement with Italian luxury fashion brand Marni, further reinforcing its alliance with OTB Group.
Marni is recognized in the fashion industry, with particular brand strength in Asia and Europe.
Read Next: Fan Of Luxury Perfumes? Coty Partners With Marni To Target Asia, Europe: Fragrance Line To Extend Beyond 2040
Price Action: COTY shares closed lower by 0.50% to $11.90 on Friday.
