The agreement, which will run beyond 2040, will see Coty develop, produce and distribute beauty products on behalf of Marni. The first items under the new licensing agreement are expected in 2026.
In a statement, Sue Nabi, Coty’s chief executive, said Marni’s pedigree for creativity, innovation and a “youthful approach” for luxury was compelling, and called out the line’s brand equity in Asia and Europe. She added that the agreement aligns with Coty’s strategic direction of “focusing on fashion-driven licences with multi-category potential.”
Many beauty conglomerates have looked to specialise, rather than act as generalists, in recent years. L’Oréal and Unilever have offloaded a number of non-core brands to focus on fewer strategic areas. Having sold off a number of mass consumer lines such as Wella and Ghd to private equity juggernaut KKR in 2020, Coty has moved upmarket. In August 2023, it signed an agreement to relaunch Marc Jacobs Beauty.
The new agreement also strengthens Coty’s relationship with Marni parent company OTB Group – in January 2023, it also renewed its fragrance licence with Italian fashion label Jil Sander.
Why Beauty’s Biggest Conglomerates Are Selling Off Their Brands
As strategics like Unilever and L’Oréal divest from once-core lines, a more selective approach to M&A is underway.