Coty announces renewal and long-term extension of Davidoff licence agreement
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New York, May 3, 2023. – Today, Coty Inc. (NYSE: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, skin and body care, is pleased to announce the renewal of their license agreement with Davidoff, extending their long-running partnership beyond twenty years.
The renewal of this iconic license paves the way to update the brand's leading fragrance, Davidoff Cool Water, as well as the creation of new innovations. The brand strategy will include a premiumized offer and echo the growth of Davidoff’s portfolio of projects. The extended partnership provides a strong foundation for further geographic expansion, cementing Davidoff's position as a true global fragrance leader.
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.”
The recent launch of Davidoff Cool Water Reborn exemplifies the partnership’s success in rejuvenating an iconic scent while recapturing the essence of the line’s early days. Coty and Davidoff’s shared passion for innovation and commitment to creating timeless fragrances that resonate with consumers around the world will continue to be the bedrock upon which this highly successful partnership is built, while exploring new and diverse facets of this iconic brand.
Following this long-term extension of the Davidoff license, the average remaining duration of Coty’s top seven licenses – which account for roughly 90% of the company’s prestige fragrance business – is now about 11 years.
About Coty Inc.
Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Coty serves consumers around the world, selling prestige and mass market products in more than 130 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to making a positive impact on the planet. Learn more at coty.com or on LinkedIn and Instagram.
About Davidoff
Zino Davidoff SA, founded in 1980, is a Swiss-based family business. Its founder, Zino Davidoff, is at the heart of the brand and inspires all that the company does – its collections of products reflect his natural elegance and appreciation of fine quality, style, authenticity, and good living. Today, the company's portfolio is made up of some of the world's finest objects that have been carefully sourced from all over the globe to bring pleasure to people everywhere. From beautifully crafted leather goods, writing instruments, and perfumes to stylish eyewear, cufflinks, coffee, and cognac.