Benetton Group and Puig announced today details of an exclusive, long-term global license agreement to create, develop and distribute new lines of United Colors of Benetton fragrances. The new licensing agreement will run from January 1, 2014.
Alessandro Benetton, Chairman of Benetton Group, said:
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,
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.
Marc Puig, Chairman and CEO of Puig added “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 endeavour.”
Puig is a family-owned fashion and fragrance business based in Barcelona. Puig owns brands such as Carolina Herrera, Nina Ricci, Paco Rabanne and Jean Paul Gaultier, and the licenses for Prada, Valentino and Comme des Garçons amongst others.