Estée Lauder collaborates with Marni in fragrance licensing agreement
"Marni adds to our overall strategy by building on our European fragrance business in the high end segment”, commented Veronique Gabai-Pinsky, Global Brand President, Aramis and Designer Fragrances.
“Marni is a luxury brand with a loyal cult-like following that appeals globally to a sophisticated, trend-conscious customer."
Exclusive license
The Milan-based fashion company founded by Conseulo and Gianni Castiglioni will be working with Estée Lauder’s Aramis and Designer Fragrances Division, which will assume the exclusive worldwide license.
“[Estée Lauder Companies] are one of the best when it comes to creating and marketing fragrances. We look forward to collaborating with them and to expressing Marni in a new creative platform", said Gianni Castiglioni, CEO Marni.
The terms of the deal have not yet been disclosed but the first product resulting from the partnership will be out in the fall of 2012.
Sales increase
Estee Lauder recently reported a double digit rise in revenues and almost doubled net profits for the fourth quarter, with its fragrance sector sales up from $1.1bn in 2010 to $1.2bn in the same quarter of 2010.
Fragrance operating income increased over 200 percent, primarily reflecting higher net sales from Estée Lauder and designer fragrances driven by recent product launches, cost reductions and a more strategically focused approach to support spending on successful launches and classics, and in markets and channels with the greatest potential.
