Benetton and Puig sign perfume licensing agreement
Benetton has signed a licensing agreement with Spanish fragrance giant Puig for the creation, development and distribution of a new line of perfumes for United Colors of Benetton. The agreement comes into effect from January 1st 2014.
The first fragrances will be for women and will be sold in department stores, specialist beauty shops and at Benetton flagships across the world. “United Colors of Benetton is one of the most widely recognized brands in the world and thus I have long believed that the fragrance market represented a bigger opportunity for our organization. For this reason, I am particularly pleased to announce that we have now identified the right partner to fully leverage this significant opportunity,” said Alessandro Benetton, chairman of Benetton Group.
Perfume Holding - which works with Ferrari, La Perla and Iceberg - previously held the Benetton licensing agreement.
Benetton is present in 120 countries and operates near to 6,500 stores. As for Puig, the company reported annual turnover of 1.48 billion euros in 2012 and holds licenses for fragrances with Nina Ricci and Paco Rabanne.
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