Coty announces long-term extension of Davidoff license agreement
Davidoff Cool Water Reborn
Beauty company Coty Inc. has announced the renewal of its license agreement with Davidoff, extending their long-running partnership beyond twenty years.
According to the company, the renewal of this license paves the way to update the brand's leading fragrance, Davidoff Cool Water, as well as the creation of new innovations. The brand strategy will include a premiumized offer and echo the growth of Davidoff’s portfolio of projects.
Sue Y. Nabi, Coty’s CEO, said, “We are delighted to renew our highly successful, long-standing partnership with Davidoff. It is a relationship which began in the 1980s and has produced some of the industry’s most iconic scents – from Zino Davidoff to Davidoff Cool Water. The significant extension of our agreement represents a deepening of our partnership and lays the foundation for innovation to drive the next phase of growth, built on trust and shared values of diversity and inclusion. It once again demonstrates that Coty is the go-to partner for fashion houses, brands and high-profile individuals that want to create leading beauty portfolios under license.”
Adrian Meili, Davidoff’s CEO, added, “The Board of Directors and the entire Zino Davidoff team are delighted to extend our successful, longstanding, and deep relationship with Coty. We look forward to continuing our close collaboration with the dedicated Coty team under Sue Y. Nabi’s inspiring leadership to further rejuvenate the Davidoff Cool Water fragrance line while also working on new innovations in the ongoing spirit of mutual trust and based on shared values.”
The recent launch of Davidoff Cool Water Reborn exemplifies the partnership’s success in rejuvenating an iconic scent while recapturing the essence of the line’s early days. Following this long-term extension of the Davidoff license, the average remaining duration of Coty’s top seven licenses – which account for roughly 90% of the company’s prestige fragrance business – is now about 11 years.
