Coty Inc. and Roberto Cavalli Group Announce License Agreement for Cavalli Fragrances
Roberto Cavalli and Coty Inc. have announced that they have signed a license agreement for the creation, development, and distribution of "Roberto Cavalli" and "Just Cavalli" fragrances. The new agreement with Coty will start in July 2011, when the existing fragrance license agreement (with ITF) for "Roberto Cavalli" and "Just Cavalli" expires.
The new license agreement with Coty, who will manage the license out of its Coty Prestige division, has the objective to further develop the presence of "Roberto Cavalli" and "Just Cavalli" fragrances internationally. The first launch of new fragrances under the new license is expected to be introduced in Spring 2012 in full selective distribution.
"It is with great pleasure that we announce the signature of this new and very important license agreement with Coty, which will allow our brand to increase the presence and visibility of our fragrances in the most important markets worldwide," declared Roberto Cavalli, President of Roberto Cavalli Group. "I have personally appreciated the quality and the professionalism of Coty Inc. in developing and marketing very prestigious and high quality fragrances and I am sure that, together, we will be able to create some new and fantastic fragrances inspired by the world and lifestyle of Cavalli."
"With his colorful and elite sense of style, Roberto Cavalli brings an undeniably unique signature to fashion. He has impressively influenced trends for decades, establishing himself as a world-renowned fashion icon," said Bernd Beetz, CEO, Coty Inc. "This is the ideal time to combine Roberto's fashion power with Coty's fragrance expertise. I'm proud to welcome Roberto as an esteemed member to the Coty family."
"Roberto Cavalli is one of the most joyous and colorful Italian fashion houses. They have a unique culture of eccentricity and a constant drive for pioneering creativity," declared Michele Scannavini, President Coty Prestige. "Fragrance is a key opportunity for this successful company and we are looking forward to working with Roberto and Eva Cavalli to capture their incomparable flamboyant style in an olfactive identity."
Financial terms of the agreement were not disclosed.
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