Coty Inc., which has distributed Puig S.L.’s fragrances in North America for the past six years, will cease doing so when the license expires on June 30.
Both companies said the decision was mutual. “After the strong and collaborative partnership Coty has enjoyed with Puig over the past six years, we are now at the stage where we need to fully focus on our own portfolio, which has grown bigger and stronger over the past years,” said Michele Scannavini, chief executive officer of Coty Inc. “We are all proud of the great work we’ve done and results achieved with the Puig business, and we wish the company continued success in the future.”
Marc Puig, chairman and ceo of Puig, concurred. “Puig is very appreciative of the support and the very positive results of the collaboration with Coty in the U.S. and Canada over the past years,” said Puig. “Our business has more than doubled during this period. As a result the time has come for Puig to redefine a new approach to pursue growth in the North American markets.”
The lightening of the load will free up the Coty Prestige division to assume selling responsibility for the Coty Beauty brands — such as those of Lady Gaga and Beyoncé Knowles — that are currently distributed to prestige retailers by a third-party sales operation.