Coty Inc. ( NYSE: COTY ) announced the extension of its partnership with European luxury brand Jil Sander.
The renewal of the license agreement extends the partnership for the first time since Jil Sander’s acquisition by Italian luxury group OTB Group. The new agreement is “paving the way for a brand new 10-year strategic project” that entails a “step into global ultra-premium fragrances' segment for the first time ever” with designs on attacking the high-end market.
“We are very pleased to extend Coty’s long-term partnership with Jil Sander, a rich shared history dating back to the 1980s,” Coty CEO Sue Y. Nabi said. “Our future strategy will focus on aligning Jil Sander fragrances with the brand’s fashion division, which appeals to the global ultra-premium market.”
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Coty renews license agreement with Jil Sander