Yesterday, Coty, the American multinational beauty products company, announced the renewal of its licensing agreement with luxury brand Jil Sander. The two companies have mutually decided to continue a long-standing partnership.
The renewal of the license agreement between Jil Sander and Coty aims to strengthen the existing business partnership, while paving the way for a brand new 10-year project. This will allow the Jil Sander brand to enter the global ultra-premium fragrance segment for the very first time.
The agreement is fully in line with the brand’s future growth strategy, which was defined by OTB Group after the acquisition of Jil Sander in 2021.
“Our shared ambition to accelerate the brand’s momentum will guide the latest chapter of our partnership as we continue to grow the fragrance portfolio. Our future strategy will focus on aligning Jil Sander fragrances with the brand’s fashion. division, which appeals to the global ultra-premium market,” said Coty CEO Sue Nabi.
For his part, the CEO of the fashion brand, Ubaldo Minelli added: “this new step will strongly contribute to consolidate and further expand the current strong positioning of the Jil Sander brand in the luxury market.”
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