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Estee Lauder & Missoni JV to develop ongoing European fragrance strategy

23
May '05
US based one of the world's leading cosmetic & beauty care manufacturers and marketers The Estée Lauder Companies Inc announced it has signed a licensing agreement with Missoni, the Milan-based fashion house known for its vibrant knitwear and engaging graphic designs. The Company will create and market fragrances and related products through its Aramis and Designer Fragrances division. Terms of the deal were not disclosed.

"Our relationship with Missoni represents important advances for several of our key business objectives, including the ongoing development of our European fragrance strategy and the expansion of our partnerships with leading fashion designers," said Patrick Bousquet-Chavanne, Group President, The Estée Lauder Companies. "Missoni is a powerful fashion brand with worldwide recognition and surging momentum. It has a dynamic, stylish image that appeals globally to a sophisticated, trend-conscious customer."

"Not only does our agreement unite two great companies -- both of which have been leaders in their industries for more than 50 years -- but it also brings together two great families," said William P. Lauder, President and Chief Executive Officer, The Estée Lauder Companies. "The Missonis share our commitment to innovation, quality and creativity. Together, we have the opportunity to build a successful new fragrance business based on these traditions."

"It is tremendously exciting for us to join The Estée Lauder Companies in this new venture," said Angela Missoni, the company's Creative Director. "They are the world's best when it comes to creating and marketing fragrances. We look forward to collaborating with them and to expressing what Missoni is all about in an exciting new way."


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