Coty may be, sources say, in talks with Kim Kardashian to sell back her beauty brand, but it is certainly holding onto its license with Adidas, which it has just renewed.
“Adidas is perfectly positioned to capitalize on the new well-being and athleisure trend in beauty amongst today’s consumers,” said Coty chief executive officer Sue Nabi about the renewal, of which terms were not disclosed.
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It has partnered with the activewear giant since the ‘90s and introduced its first product in the U.S. in 1999 with the Adidas Moves for Him scent, followed by Adidas Moves for Her in 2000.
Nabi noted that in recent months, Coty has elevated Adidas’ body care offering with the launch of the Adidas Active Skin and Mind range.
“Consumers have responded very positively to the launch, and we look forward to building on this progress with an exciting pipeline of further innovations and lines as we drive growth in new and existing markets in the future,” she added.
After the launch of the Active Skin & Mind Range in Europe, Coty is now looking to drive growth in China, forging a partnership with Su Yiming, the Chinese gold medallist in snowboarding, as an ambassador for the brand.
As for its other partnerships, at the end of last year, Coty sold its Lacoste fragrance license back to Lacoste by mutual agreement for an undisclosed sum and separately renewed its license with Hugo Boss. In May, it renewed its license with Davidoff, extending the companies’ long-running partnership, which began in the ‘80s.
There has also been much speculation about what will happen with its license for Gucci Beauty. Gucci owner Kering has been making a series of high level hires in its beauty division as it looks to become a serious player in the sector. The Gucci license is expected to expire in 2028.
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