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NEW YORK, Oct. 5, 2011 /PRNewswire/ -- Coty Inc., a leading global beauty company and Elite, the world's most prestigious modeling network announced today a partnership to develop and market a new line of fragrances encompassing the values and image of this prestigious yet accessible, global brand.
The new fragrance collection is set to launch in January 2012 and will include four fragrances that will embrace the alluring beauty and glamour associated with the world of modeling and fashion.
"Coty has a great track record in identifying growth opportunities to strengthen our position as the global leader in the world of beauty," says Bernd Beetz, Coty Chief Executive Officer. "We are pioneering a new concept in the industry and expect to further fuel the success of the fragrance category as we know it."
"Based on our strong licensing partnerships, our unrivaled fragrance expertise, and the global reach of the Elite Models brand, we see an opportunity to broaden the scope of our business portfolio and team up with a brand that is on the cutting edge of the fashion business," said Renato Semerari, President of Coty Beauty.
"Elite is not just a modeling agency. Our vision is to capture the spirit of today's women and that is why we believe this partnership is the perfect union. Coty has a remarkable reputation of understanding women and developing fragrances women find desirable and glamorous," said Elite World CEO, Cristian D’Ippolito and Vick Mihaci, President Elite Models. "We believe that our effective business model will complement Coty's immense expertise in fragrance."
"The marketing behind the Elite Models fragrance collection will bring out the emotional side of the brand and express a modern and cosmopolitan vision of women," said Jurgen Scharfenstein, Sr V.P. of Global Marketing for Coty Beauty. "We are working toward distilling the glamorous appeal of Elite into a line of fragrances that deliver an out of this world experience," said Scharfenstein.
Executives from Coty Beauty and Elite worked together to elaborate marketing plans for an international fragrance launch that will include a comprehensive media campaign as well as synergies with the internationally renowned Elite Model Look Contest. Details are still currently in development and will be announced closer to the launch.
Financial terms of the agreement were not disclosed.
About Coty Inc.
Coty was created in Paris in 1904 by Francois Coty who is credited with founding the modern fragrance industry.
Today, Coty Inc. is a recognized leader in global beauty with annual net sales of nearly $4 billion. Driven by an entrepreneurial spirit, passion, innovation and creativity, Coty Inc. has developed an unrivaled portfolio of notable brands and delivers its innovative products to consumers in 90 markets worldwide.
The Coty Prestige brand portfolio is distributed in prestige and ultra-prestige stores and includes Balenciaga, Bottega Veneta, Calvin Klein, Cerruti, Chloe, Chopard, Davidoff, Jennifer Lopez, Jil Sander, JOOP!, Karl Lagerfeld, Kenneth Cole, Gwen Stefani, La Voce by Renee Fleming , Lancaster, Marc Jacobs, Nikos, philosophy, Sarah Jessica Parker, Vera Wang, Vivienne Westwood and Wolfgang Joop.
The Coty Beauty brand portfolio is more widely distributed and includes adidas, ASTOR, Baby Phat, Beyonce Knowles, Celine Dion, Chupa Chups, David and Victoria Beckham, Esprit, Exclamation, Faith Hill, GUESS?, Halle Berry, Heidi Klum, Jovan, Kate Moss, Kylie Minogue, Lady Gaga, Manhattan, Manhattan Clearface, Miss Sporty, Nautica, N.Y.C. New York Color, Nicole by OPI, OPI, Pierre Cardin, Playboy, Rimmel, Sally Hansen, Stetson, Tim McGraw, TJoy and Tonino Lamborghini.
Coty and Puig Fashion and Beauty S.L. have a strategic partnership for the distribution of the perfume lines of Antonio Banderas, Carolina Herrera, Nina Ricci, Prada, Paco Rabanne and Shakira in the United States and Canada.
For additional information about Coty Inc., please visit www.coty.com.
About Elite World SA.
Elite Model Management is on the pulse of global beauty and style. Founded in 1972, Elite Model Management is the world's largest modeling agency, representing more than 2,300 models across five continents.
Elite models have been featured on over 1,000 magazine covers from around the world and include legendary icons such as Claudia Schiffer, Naomi Campbell, and Gisele Bundchen. Elite, is also shaping the runway stars of tomorrow with Alessandra Ambrosio, Constance Jablonski, Sigrid Agren, Eniko Mihalik and Fei Fei Sun and continues to explore the world in search of the next stars through its Elite Model Look contest. The Elite Model Look contest attracts some 350,000 participants in 80 countries per year.
Elite is not just a modeling agency, it is a true brand with activities in three major business areas including high-level model management, the Elite Model Look contest and world-class licensing.
To learn more about Elite, visit www.elitemodel.com.