Home / Knowledge / News / Fashion / Coty Inc acquires Unilever's prestige fragrance business

Coty Inc acquires Unilever's prestige fragrance business

May '05
world largest & most successful beauty company coty inc announced it has entered into a definitive agreement to purchase the global prestige fragrance business of unilever for $800 million.

unilever cosmetics international (uci) owns the perfume licenses for calvin klein, cerruti, vera wang, chloe and lagerfeld. upon closing of the transaction, coty will become one of the world`s leading fragrance companies.

`today`s acquisition represents an important further step in the transformation of coty that began in 2001,` said chief executive officer bernd beetz. `over the last several years, coty`s success with fashion, celebrity and lifestyle fragrances has enabled us to grow when most of our industry has been flat or shrinking. we are now entering a new phase in which we will greatly expand our presence in the market for prestige and ultra-prestige brands on a global basis.`

beetz added, `in addition to making coty a leading player in a highly fragmented industry, this acquisition will move us closer to our longer-term goal of being among the top five beauty companies in the world.`

in addition to the perfume licenses, coty will acquire a manufacturing and distribution center in mt. olive, new jersey and a distribution center in lille, france. as part of the agreement, coty may make further deferred payments to unilever contingent upon the future sales performance.

the new fragrances will become part of lancaster group worldwide, theprestige division of coty, which is led by michele scannavini, president, lancaster group worldwide. the acquisition advances the lancaster group`s strategy to increase sales in the united states, while giving coty an even greater presence in europe and a much stronger foothold in asia.

Must ReadView All

Pic: Shutterstock

Textiles | On 19th Jan 2022

Supply bottlenecks, high prices, omicron affect growth prospects: ECB

The global economy is on a recovery path, although persisting supply...

Pic: Shutterstock

Textiles | On 19th Jan 2022

Inflation peaks months earlier in Turkey than expected

Turkish finance minister Nureddin Nebati said inflation would peak in ...

Pic: Shutterstock

Textiles | On 18th Jan 2022

Singapore, Bangladesh agree to conclude FTA early

Bangladesh and Singapore have agreed to accelerate the process of...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

Textile Industry, Head honchos

Textile Industry
Head honchos

Instagram & fashion will go a long way together

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Christopher Astley, INDA

Christopher Astley

<font face="Arial, sans-serif"><span style="font-size: 16px;">INDA,...

Jacques Prigneaux, EDANA

Jacques Prigneaux

EDANA has been the leading global association and voice of the nonwovens...

Shlomzion Chen, Seevix

Shlomzion Chen

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Manish Malhotra, Label Manish Malhotra

Manish Malhotra
Label Manish Malhotra

A multitalented designer and founder of an eponymous label, Manish...

Asmita Marwa, Asmita Marwa Design

Asmita Marwa
Asmita Marwa Design

Indian fashion designer Asmita Marwa has been rated by Vogue as one of the ...

Dahlia Razzrook, Label - Dahlia Razzook

Dahlia Razzrook
Label - Dahlia Razzook

London based designer, <b>Dahlia Razook</b> known for her luxury...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments


Cat Tuong Real Estate Group Joint Stock Company
Esprit Europe Services GmbH
Under Armour Global Sourcing Ltd
Tory Burch Hong Kong Ltd
Groz-Beckert East Asia LLP
Eastman Chemical Company
Alison Hayes Romania
Helly Hansen Far East Ltd
OVS Hong Kong Sourcing Ltd.
J ;& P Coats
Varner AS Retail
Tommy Hilfiger
SHAHI Exports Pvt Ltd
Reiter India Private Limited
Phong Phu international JSC (PPJ)

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search