Coty renews license agreement with Davidoff
As part of the extended partnership, Coty will update the brand's leading fragrance, Davidoff Cool Water, as well as the creation of new innovations. Likewise, the partnership provides a strong foundation for further geographic growth.
Following the long-term extension of the Davidoff license, the average remaining duration of Coty’s top seven licenses – which account for roughly 90% of the company’s prestige fragrance business – is now about 11 years.
“We are delighted to renew our highly successful, long-standing partnership with Davidoff. It is a relationship which began in the 1980s and has produced some of the industry’s most iconic scents – from Zino Davidoff to Davidoff Cool Water,” said Sue Nabi, Coty’s CEO.
“The significant extension of our agreement represents a deepening of our partnership and lays the foundation for innovation to drive the next phase of growth, built on trust and shared values of diversity and inclusion. It once again demonstrates that Coty is the go-to partner for fashion houses, brands and high-profile individuals that want to create leading beauty portfolios under license.”
Coty also holds fragrance licenses for the likes of Calvin Klein, Marc Jacobs, Chloé, Miu Miu, Tiffany & Co., Joop, Jil Sander, Roberto Cavalli and Escada.
Adrian Meili, Davidoff’s CEO, added: “The board of directors and the entire Zino Davidoff team are delighted to extend our successful, longstanding, and deep relationship with Coty. We look forward to continuing our close collaboration with the dedicated Coty Team under Sue Nabi’s inspiring leadership to further rejuvenate the Davidoff Cool Water fragrance line while also working on new innovations in the ongoing spirit of mutual trust and based on shared values.”
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