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Coty, Tiffany Ink Fragrance Licensing Deal

Coty will develop product and distribute Tiffany scents for both men and women.

Coty Inc.’s newest partner is Tiffany & Co.

The two have inked a deal to develop, produce and distribute Tiffany scents for men and women, which will be sold in Tiffany doors and a group of undisclosed specialty store doors.

The companies have not determined when the first fruits of the collaboration will be launched, said spokeswomen from both Coty and Tiffany. When products are launched, they will join prestige fragrance brands such as Marc Jacobs, Chloé and Calvin Klein at Coty.

“Tiffany is among the world’s most important houses of luxury, and fragrances are an important expression of the brand,” said Frédéric Cumenal, chief executive officer of Tiffany & Co. “We are pleased to work with Coty, an industry leader in the prestige fragrance category, on the development of a more meaningful fragrance portfolio through this licensing agreement.”

“Tiffany’s luxury heritage lends itself perfectly to Coty’s prestige fragrance portfolio,” said Bart Becht, chairman and interim ceo of Coty. “We look forward to bringing Coty’s unique expertise to Tiffany by establishing a strong fragrance business for the brand.”

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Tiffany has dabbled in the fragrance space before. According to market sources, Chanel developed four or five men’s and women’s fragrances for Tiffany from the late Eighties into the Nineties, when the brand was handled by its Fragrances Exclusive division. The Tiffany scents were distributed to major specialty and department stores, including Macy’s. Chanel closed the division in 2006. The Ungaro fragrances were also handled by the division.