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“This partnership demonstrates the dynamic value gained by combining strong market orientation and stellar brands to reinforce fragrance leadership,” said Bernd Beetz, CEO, Coty Inc. “We are very pleased to expand our presence within the prestige department and specialty store segments while enhancing our portfolio of distinguished designer brands.”
The Puig Prestige portfolio is comprised of Carolina Herrera, Prada, Nina Ricci, Paco Rabanne and Comme des Garçons.
“We have had, for some time, an ambition to make further inroads into the U.S. market, and this alliance is an important part of realizing that goal,” said Marc Puig, CEO, Puig Beauty & Fashion Group. “We are confident the Coty organization is the best possible partner to help us understand the retail landscape and work with us towards the future success for our brands.”