Lagerfeld leaves Coty, moves to Inter Parfums

25th October, 2012

Yesterday, Coty and Karl Lagerfeld agreed to their licensing deal. Under the agreement, Coty has exclusive rights to continue to sell its existing inventory of products within the Karl Lagerfeld fragrance portfolio. Today it was announced that Lagerfeld has signed a 20 year deal with Inter Parfums.

Jean Mortier, president of Coty Prestige said "The working relationship with Karl Lagerfeld and Karl Lagerfeld B.V. has always been built on mutual respect and professionalism, It was an honor working with a renowned designer such as Karl Lagerfeld, however, it became increasingly apparent that our companies' respective strategies were no longer a perfect match."

Phillipe Benacin, chairman of Inter Parfums told WWD that "He is one of the most talented designers in the world, if not the most talented, which makes it a huge opportunity to develop fragrance under his name".

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    • furrypine | 25th October 2012 17:50

      I am sorry for the morbidity but my first thought was, is Lagerfeld really going to be alive 20 more years?

    • funhuntr | 26th October 2012 15:18

      That was actually my first thought, that this deal would outlive Karl!

    • Pollux | 1st November 2012 02:58

      OK, they can start by re reformulating Lagerfeldt's classic scent for men.

    • kccparis | 9th November 2012 13:23

      Great timing Saved inter Parfums financial butt. They had recently lost Burberry who bought back their own mark 180€ million as a one off extraordinary payment to Inter Parfums. Burberry did contribute 50% to the net profits.

      Karl Lagerfeld is an icon and a great man. He has the money to elegantly retire, BUT, no. He continues to work all hours and weekends often late into the night.

      Hats off too Karl won't surprise if he does not make the 20 year deal. He prestige and reputation will easily have a forward momentum that will out last the contract.

    • Rubirosa | 18th February 2013 18:21

      I really hope they reformulate both Lagerfeld Classic and Lagerfeld Photo. They used to be wonderful and powerful old school classics, the current ones from Coty smells like bland knockoffs with really bad longevity. I used to wear Photo for years in the 90's, but now it opens up with cheap soap and the dry down is very similar to the boring fresh laundry of Individuel by Mont Blanc. The Classic used to smell a bit dated, but had a boozy masculine businessman vibe to it. Now it's extremely balmy and heady, imagine a peeled rotten orange dusted with icing sugar and your grandmothers stale old powder.