Coty Inc. Becomes World Leader in Fragrances {Fragrance News}
French business magazine Challenges reports about the rise in competitivity of Coty, Inc. which has become the number one world leader in fragrances (and the third largest beauty group ) over a one year period, beating L'Oréal, LVMH and Chanel.
It also stresses the difficulties of Burberry at keeping its business in-house after leaving Inter Parfums in 2012. Four years later, the British brand is now part of the booming portfolio of perfume brands Coty Inc. owns, after a transient passage at Shiseido (2015-2017).
There are however two notable mistakes in the article regarding Dolce & Gabbana and Coty...
Dolce & Gabbana is not part of Coty, Inc. but of the Shiseido group since July 1st 2016 - and still is, according to representatives of both Coty and Shiseido, with whom we verified the information yesterday.
Shiseido divested itself of Burberry, which indeed goes to Coty, but bought Dolce & Gabbana six months ago - and is keeping it. Dolce & Gabbana, in fact, refused to be purchased by Coty, Inc. as part of the Procter & Gamble portfolio.
In July 2016, Shiseido stated in a press release that,
''We are so proud to enrich our portfolio of prestige brands by such a beautiful luxury fashion
brand. The license agreement is aimed at strengthening our brand portfolio for the sake of future top line growth, which is a part of my VISION 2020 for Shiseido Group. The collaboration of our two companies, with their heritage rooted in such diverse cultures as Mediterranean style and Japan, opens excellent opportunities for creating new exciting values.'' says Masahiko Uotani, Shiseido Group CEO.
For Shiseido, the move enables Dolce & Gabbana to make "full use of Shiseido Group's R&D ability, it is highly anticipated that Dolce&Gabbana enhances its product lines not only in fragrance but also in makeup and even skincare business (around 400 million euros turnover in 2015, only in the beauty activities)."
Read more about Comment le parfumeur Coty s'est imposé comme le numéro un de son secteur, but please keep in mind the two last paragraphs contain faulty information.
Additional sources: Shiseido & Coty reps; Shiseido group; Coty Inc
