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The Procter & Gamble Company (P&G) and Stella McCartney announced P&G Prestige has signed a contract to enter into a license agreement with Stella McCartney to manufacture and sell designer fragrance products. Effective September 13, 2013, P&G will begin to develop and market new initiatives under the Stella McCartney brand name.
“Stella McCartney is a truly iconic global brand with a modern, naturally sexy and confident approach to fashion. She has a unique, responsible approach to luxury and design. We look forward to extending that approach to beauty even further,” said Joanne Crewes, president, P&G Prestige. “Stella McCartney enhances the P&G Prestige portfolio, and her passionate consumer base will enable us to reach more women around the world. Her unique point of view combined with our expertise in the fine fragrance category, our core strengths in brand building and innovation, and our global retail partnerships, create a perfect partnership for global growth and expansion. We are thrilled.”
McCartney commented, "It is just an incredibly exciting time to look at the world of Stella McCartney beauty and to have such an opportunity with such a great partner in P&G Prestige that understands my beliefs. I am incredibly excited to get working and to start a new world of beauty for us. There is so much energy already ,and we haven't even started, I just feel like we can do really wonderful things and explore the world of beauty, together, as a team.”
The signing of the Stella McCartney fragrance license is consistent with P&G Prestige’s strategy to grow the business with strong brands with global leadership potential. Stella McCartney is complementary to P&G’s existing designer fragrance portfolio and expands upon their strong luxury fragrance brands.