Benetton Group and Puig announced details of an exclusive, long-term global license agreement to create, develop and distribute new lines of United Colors of Benetton fragrances, which will embody the core values of the brand. The partnership marks the start of a long-term venture that brings together two successful family-owned fashion and fragrance firms: the Italian-based Benetton Group and Puig of Barcelona; the new licensing agreement will run from January 1, 2014.
The first fragrance, a feminine developed for the masstige market, will be distributed through major department stores and specialist beauty retailers worldwide. The new fragrance will also be sold internationally at key United Colors of Benetton flagship stores.
“United Colors of Benetton is one of the most widely recognized brands in the world, and thus I have long believed that the fragrance market represented a bigger opportunity for our organization. For this reason, I am particularly pleased to announce that we have now identified the right partner to fully leverage this significant opportunity,” said Alessandro Benetton, chairman of Benetton Group. “The global success of Puig and its extensive experience in the fragrance industry make it an ideal partner to strengthen and bring new energy to the United Colors of Benetton fragrance lifestyle and business. Certainly, the entrepreneurial spirit that drives both organizations, combined with passion, innovation and creativity, is another important element that brought us together.”
“At Puig, one of our strengths is our ability to translate the image of a brand into the fragrance category. We look forward to working with the Benetton team in this new endeavor,” remarked chairman and CEO Marc Puig.