Cosmetics company Coty has recently announced the renewal of its license agreement with luxury fashion brand Jil Sander, marking an important milestone for both parties. This renewed partnership will result in a strategic venture that will see Jil Sander entering the global ultra-premium fragrances market for the first time. The move aligns with owner OTB’s overarching strategy to drive growth for the Jil Sander brand, which was acquired by the company in 2021.
Sue Y Nabi, CEO of Coty, commended Jil Sander’s recent accomplishments under the creative direction of Lucie and Luke Meier. Nabi expressed a shared vision to expedite the brand’s momentum and further expand its fragrance line. The future strategy will focus on creating a synergy between Jil Sander fragrances and the brand’s fashion division, with the aim of captivating the global ultra-premium market.
This announcement reflects a growing trend in the industry, where brand owners are integrating their various activities to establish a cohesive and unified brand image. Luxury brands are increasingly shifting away from offering products at different price points and instead concentrating on maintaining a consistent and distinctive identity.
Ubaldo Minelli, CEO of Jil Sander and OTB Group, expressed his satisfaction with the reinforced collaboration with Coty. He emphasized that the brand is a natural fit for the global ultra-premium segment and highlighted that this new endeavor will play a pivotal role in strengthening and expanding Jil Sander’s position in the luxury market for the foreseeable future.
Overall, the partnership between Coty and Jil Sander signifies the brands’ commitment to innovation, growth, and integrity in the luxury sector. As they join forces to make their mark in the global ultra-premium fragrances market, they are poised to captivate fashion and fragrance enthusiasts alike.
Useful links:
1. Jil Sander Official Website
2. Coty Official Website
