Burberry kicks off its major beauty deal with Coty
Coty and Burberry have kicked off the long-term beauty partnership that comes at a crucial time for both companies. Burberry wants to spur growth in its beauty ops while Coty has been looking at its operations amid reports that it could be about to divest some brands.
This week Coty has a major presence at the Tax Free World Association’s (TFWA) World Exhibition in Cannes and is promoting the Burberry portfolio heavily. And that’s no surprise. At the opening conference for this celebration of all things relating to travel retail, the organisers said how crucial beauty is to the travel retail sector at present so it’s a good time (and place) for the new partnership to start.
So, as of now, Coty has completed the acquisition of the exclusive long-term global license rights for Burberry Beauty luxury fragrances, cosmetics and skincare.
Coty CEO Camillo Pane said the firm’s “world-class ability in developing and bringing to market beauty brands will help drive a new phase of development and growth for Burberry Beauty."
And while those divestment rumour rumble on, Edgar Huber, President Coty Luxury, added: “Burberry fits perfectly with Coty Luxury’s portfolio, which includes contemporary and globally relevant luxury beauty brands. We are uniquely positioned to develop Burberry Beauty to the next level. This is another significant step in building Coty’s Luxury division.”
Meanwhile, Marco Gobbetti, CEO of Burberry, said: “Following months of hard work to ensure a smooth transition, this strategic partnership, which brings together tremendous beauty experience and expertise, has begun.”
Coty will have overall responsibility for strategic direction on the portfolio’s development, leveraging its global capabilities in beauty strategy, innovation, supply-chain and go-to-market, working in partnership with Burberry. The UK firm will lead on creative elements.
Burberry beauty products will be sold in leading luxury beauty retailers globally as well as in Burberry stores and digital channels.
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