Beauty conglomerate Coty has announced the renewal of its licensing agreement with Jil Sander, extending the duo’s long-running partnership.
Next to the development of a 10-year strategic project which aims to strengthen the existing business, the deal will also see the Jil Sander brand step into the global ultra-premium fragrances’ segment for the first time.
The move comes as part of the brand’s growth strategy, which was initially set by OTB Group after the fashion firm acquired Jil Sander in 2021.
In a release, Coty’s CEO, Sue Y. Nabi, said: “We are very pleased to extend Coty’s long-term partnership with Jil Sander, a rich shared history dating back to the 1980s.
“Over the past few years, Jil Sander’s collections have received international recognition and huge success, resonating with consumers across the world. Our shared ambition of accelerating the brand’s momentum will guide the latest chapter of our partnership, as we pursue further growth of the fragrance line.
“Our future strategy will focus on aligning Jil Sander fragrances with the brand’s fashion division, which appeals to the global ultra-premium market. We look forward to continuing our relationship as we work together in building on this fragrance powerhouse’s outstanding potential.”
Ubaldo Minelli, Jil Sander and OTB Group’s CEO, added that the new partnership will “strongly” contribute to the consolidation and further expansion of the brand’s current position in the luxury market.