Burberry Beauty is now officially part of the Coty Luxury portfolio due to Coty completing the acquisition of the long-term global license rights for the brand’s luxury fragrances, cosmetics and skincare.
Due to this collaboration, Coty will have overall responsibility, on a global basis, for the development, manufacture and distribution of Burberry Beauty products.
Camillo Pane, Coty Chief Executive Officer, said, “We are pleased to complete this transaction and move forward with our strategic partnership, combining Burberry’s British heritage of innovation, craftsmanship and design with Coty’s expertise and leadership in luxury beauty products,” said Camillo Pane, Coty Chief Executive Officer. “Coty’s world-class ability in developing and bringing to market beauty brands will help drive a new phase of development and growth for Burberry Beauty.”
Marco Gobbetti, Burberry Chief Executive Officer, commented: “Following months of hard work to ensure a smooth transition, we are pleased that this strategic partnership, which brings together tremendous beauty experience and expertise, has begun. Burberry is incredibly proud of what has been achieved in the last four years and we look forward, with the support of Coty, to further building on these foundations.”