Today (February 20th), Coty announced a new agreement with the Italian luxury fashion brand Etro to produce and distribute its iconic fragrances and home fragrances series after 2040. Coty and Etro will collaborate to explore new categories and innovations to expand the brand’s beauty product portfolio.
Public information shows that Etro was founded by Gerolamo Etro in Milan in 1968, offering a full range of men’s and women’s clothing, accessories, home goods, and perfumes. L Catterton acquired a majority stake in the company in July 2021. It is noteworthy that so far, the brand’s perfumes have been developed internally, and this collaboration marks the first time they have authorized beauty products to an external company.
Coty CEO Sue Nabi stated, “Etro is an iconic brand with a rich heritage. This agreement further emphasizes Coty’s focus on fashion licensing, which holds enormous potential to resonate with consumers in our key markets. We are excited to partner with Etro to bring its unique brand image to life, building on its existing beauty products through new categories and product launches.”
Reportedly, Coty will be responsible for the development, production, and distribution of all Etro fragrances. This collaboration will strengthen Etro’s position in mature markets and categories while leveraging Coty’s expertise and global distribution channels to actively drive expansion in new opportunities and niche markets.
Etro CEO Fabrizio Cardinali stated, “We look forward to collaborating with the Coty team to explore the development of our beauty business in an authentic Etro way, further meeting the evolving needs of consumers in different markets.”
