Coty Inc. announced that it has entered into a license agreement with global lifestyle brand GUESS?, Inc., to develop and market new GUESS fragrance lines. As part of the partnership, Coty will also distribute existing GUESS fragrances, effective January 2010.
"GUESS' groundbreaking approach and reputation lends itself perfectly to the passionate and innovative spirit of Coty," said Bernd Beetz, CEO, Coty. "With this partnership, Coty is inheriting a notable fragrance house. Our plans for expanding the reach of the GUESS brand will position the GUESS fragrance for accelerated global success."
"Signing with Coty is a quantum leap for our brand. We are convinced that Coty will bring GUESS to the forefront of the global fragrance market," said Paul Marciano, vice chairman and CEO, GUESS?, Inc. "This collaboration with Coty will provide the perfect platform for GUESS to create innovative, highly desirable and luxurious fragrances that reflect our company's image and legacy. It symbolizes both a strategic and creative alliance. We are very excited about our partnership with Coty."