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27 Jan

Coty, Davidoff Renew Fragrance License

Davidoff Cool Water isn’t changing homes anytime soon.

Coty Inc. has renewed its license with Davidoff, extending the businesses’ long-running partnership, which began within the ‘80s, beyond 20 years.

The renewal paves the method to update the brand’s leading fragrance, Davidoff Cool Water, in addition to the creation of latest innovations, in response to Coty, including a premiumized offering.

Sue Y. Nabi, Coty’s CEO, said: “It’s a relationship which began within the Nineteen Eighties and has produced a number of the industry’s most iconic scents — from Zino Davidoff to Davidoff Cool Water. The numerous extension of our agreement represents a deepening of our partnership and lays the inspiration for innovation to drive the subsequent phase of growth, built on trust and shared values of diversity and inclusion.”

Adrian Meili, Davidoff’s CEO, added: “We look ahead to continuing our close collaboration with the dedicated Coty team under Sue Y. Nabi’s inspiring leadership to further rejuvenate the Davidoff Cool Water fragrance line while also working on latest innovations in the continued spirit of mutual trust and based on shared values.”

The typical remaining duration of Coty’s top seven licenses — which account for roughly 90 percent of the corporate’s prestige fragrance business — is now about 11 years.

Last 12 months Coty sold its Lacoste fragrance license back to Lacoste by mutual agreement for an undisclosed sum, and individually, renewed its license with Hugo Boss. Lacoste has a giant footprint in Russia, an area which Coty has divested from because of its invasion of Ukraine. As for Hugo Boss, the partnership, which began in 2016 and has now been prolonged beyond 2035, includes all Boss and Hugo fragrances for men and girls.

Amongst prestige fragrances, Coty also holds the license for Calvin Klein, Marc Jacobs, Chloé, Miu Miu, Tiffany & Co., Joop, Jil Sander, Roberto Cavalli and Escada.

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