Coty Inc. upped the competitive ante dramatically in May when it acquired Unilever's prestige fragrance business, including the Calvin Klein and Vera Wang brands, with the ultimate goal of becoming "the world fragrance leader," in the view of chief executive officer Bernd Beetz.
Four months later, in September, Beetz seemed like a prophet, when the new Calvin Klein women's fragrance, Euphoria, raced to the top of department store charts.
Making it one of the biggest deals of the year, Coty agreed to pay $800 million for a scent portfolio of designer brands, including Calvin Klein, Cerruti, Vera Wang, Chloé and Karl Lagerfeld. Each became part of Lancaster Group Worldwide, Coty's prestige division, which houses megawatt brands such as Jennifer Lopez, Marc Jacobs, Kenneth Cole and Nautica.
At the time of the announcement, Beetz described Klein as providing "a linchpin" of global power because of its strong presence in markets around the world. With the addition of the acquired brands, which do more than $600 million in estimated volume, it was anticipated that Coty might reach total sales of $3 billion within the next two years.
Coty is already the top player in mass-market fragrance, with such hits as Celine Dion, Mary-kateandashley, Adidas and Stetson. The acquisition will give Coty the critical mass in the prestige segment to match its strengths in mass, Beetz said at the time. With a stronger lineup covering all distribution channels and
extended geographic reach, Coty is poised to go after industry behemoths, namely L'Oréal, the Estée Lauder Cos. and Procter & Gamble.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
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25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye