Coty Inc. has renewed its license agreement with Davidoff, extending their partnership beyond 20 years. The renewal will allow Coty to update the brand's leading fragrance, Davidoff Cool Water, and launch new innovations. Coty recently launched Davidoff Cool Water Reborn.
According to Coty, its seven largest licenses account for about 90% of the company’s prestige fragrance business.
Sue Y. Nabi, Coty’s CEO, said, “We are delighted to renew our highly successful, long-standing partnership with Davidoff. It is a relationship which began in the 1980s and has produced some of the industry’s most iconic scents–from Zino Davidoff to Davidoff Cool Water. The significant extension of our agreement represents a deepening of our partnership and lays the foundation for innovation to drive the next phase of growth, built on trust and shared values of diversity and inclusion. It once again demonstrates that Coty is the go-to partner for fashion houses, brands and high-profile individuals that want to create leading beauty portfolios under license.”
Adrian Meili, Davidoff’s CEO, commented, “The board of directors and the entire Zino Davidoff team are delighted to extend our successful, longstanding, and deep relationship with Coty. We look forward to continuing our close collaboration with the dedicated Coty Team under Sue Y. Nabi’s inspiring leadership to further rejuvenate the Davidoff Cool Water fragrance line while also working on new innovations in the ongoing spirit of mutual trust and based on shared values.”