THE WHAT? Coty and Jil Sander have announced that they have renewed their license agreement as well as the mutual decision to continue the long-running partnership between the two companies.
THE DETAILS The renewal paves the way for a 10-year strategic project which will see the Jil Sander brand make its first foray into the global ultra-premium fragrances segment.
THE WHY? Sue Y. Nabi, Coty’s CEO, explains, “We are very pleased to extend Coty’s long-term partnership with Jil Sander, a rich shared history dating back to the 1980s. Over the past few years, Jil Sander’s collections have received international recognition and huge success, resonating with consumers across the world. Our shared ambition of accelerating the brand’s momentum will guide the latest chapter of our partnership, as we pursue further growth of the fragrance line. Our future strategy will focus on aligning Jil Sander fragrances with the brand’s fashion division, which appeals to the global ultra-premium market. We look forward to continuing our relationship as we work together in building on this fragrance powerhouse’s outstanding potential.”
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