Lacoste takes backs scent license from Coty, links with Interparfums
The agreement includes an ‘entrance fee’ of €90 million and will see Interparfums responsible for the creation, development, production and marketing of all perfume and cosmetics lines under the Lacoste brand, in selective distribution as well as in the label’s boutique network.
The launch of the first new perfume line is scheduled for 2024.
Thierry Guibert, Lacoste President hailed the new licensee's “proven know-how and creativity [that] will be key assets to continue the development of our fragrance category, which plays a significant role in Lacoste's reputation. Our common vision will enable us to take an approach that is increasingly in line with the brand's strong identity codes, whose fragrances still have great potential”.
And Inter Parfums CEO Jean Madar added that the Lacoste management team “has a clear and precise vision of the brand's great development potential, which will also allow us to take the perfumes higher and further. This is an important new strategic step in the life of Interparfums”.
The deal comes as Coty announced the sale of its Lacoste fragrance license back to the firm “by mutual agreement”.
Coty has managed the brand for the last six years and said the “Lacoste men’s fragrances have secured a premium+ positioning in the market, with two award winning pillars, L’Homme and Match Point, multiple innovations, and a 17-place improvement in French market rankings”.
Lacoste’s Guibert also said that the partnership saw the label taking “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”.
Copyright © 2023 FashionNetwork.com All rights reserved.