Burberry announced yesterday the beginning of its strategic partnership with Coty to accelerate the growth and development of the Burberry Beauty business.
The partnership will build on the past four years of successful elevation and repositioning of Burberry Beauty. During this time,Burberry launched award-winning luxury fragrances such as My Burberry and Mr Burberry, redeveloped and relaunched make-up, and boosted sales of new fragrances in key markets.
Leveraging the strengths of each partner, Burberry will continue to lead on creative elements of the business while benefitting from Coty’s deep beauty industry expertise and first-class global distribution. The partnership will provide an accretive impact to Burberry’s earnings from FY 2019 through a combination of upfront payments and ongoing royalties.
Marco Gobbetti, Chief Executive Officer, Burberry, 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.”
Camillo Pane, Chief Executive Officer, Coty, 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. 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.”