Coty; Playboy Announce License Agreement
Posted: February 29, 2008
Coty Inc. announced that it has entered into a license agreement with Playboy Enterprises, Inc. to develop a global men’s fragrance line under the Playboy brand name.
“Playboy’s rich history of glamour, indulgence and fun, combined with a cutting edge lifestyle creates the perfect formula for a new men’s fragrance line,” said Bernd Beetz, CEO, Coty Inc. “One of the world’s most recognized and iconic brands, Playboy is known by men and women around the world. We anticipate that this fragrance will quickly become a successful part of our lifestyle brands portfolio at Coty Beauty.”
The new fragrance is scheduled for global distribution beginning fall 2008 with initial plans to launch in Europe, North America, Latin America and Asia. A product launch event for Playboy’s first global fragrance is being planned for this summer and marketing plans are currently in development.
“With Coty’s global success and impressive fragrance industry expertise, they were clearly the right partner for our fragrance debut,” said Christie Hefner, Chairman and CEO of Playboy Enterprises, Inc. “Just as Francois Coty revolutionized the fragrance industry over 100 years ago, my father started a revolution over a half century ago. There is no one better to work with on the development of Playboy’s first global fragrance.”
“Playboy is an aspirational lifestyle brand that embodies a very playful, metropolitan lifestyle of success and sexiness. Playboy is the perfect match to create a new men’s fragrance, as it is a brand that inspires a lifestyle of fantasy and desirability,” stated Steve Mormoris, SVP Global Marketing, Coty Beauty. “The world’s largest fragrance company coupled with Playboy’s globally recognized lifestyle brand can only be a winning combination.”
Financial terms of the agreement were not disclosed.