EXCLUSIVE: Coty, Davidoff Renew Fragrance License
Davidoff Cool Water isn’t changing homes anytime soon.
Coty Inc. has renewed its license with Davidoff, extending the companies’ long-running partnership, which began in the ‘80s, beyond 20 years.
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The renewal paves the way to update the brand’s leading fragrance, Davidoff Cool Water, as well as the creation of new innovations, according to Coty, including a premiumized offering.
Sue Y. Nabi, Coty’s CEO, said: “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.”
Adrian Meili, Davidoff’s CEO, added: “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.”
The average remaining duration of Coty’s top seven licenses — which account for roughly 90 percent of the company’s prestige fragrance business — is now about 11 years.
Last year Coty sold its Lacoste fragrance license back to Lacoste by mutual agreement for an undisclosed sum, and separately, renewed its license with Hugo Boss. Lacoste has a big footprint in Russia, an area which Coty has divested from due to its invasion of Ukraine. As for Hugo Boss, the partnership, which began in 2016 and has now been extended beyond 2035, includes all Boss and Hugo fragrances for men and women.
Among prestige fragrances, Coty also holds the license for Calvin Klein, Marc Jacobs, Chloé, Miu Miu, Tiffany & Co., Joop, Jil Sander, Roberto Cavalli and Escada.
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