MILAN — Dsquared added another brick to the foundation of its growing fashion brand when it announced a licensing agreement with Italian fragrance manufacturer ICR here Monday.
Dan and Dean Caten, the twin designers behind the 12-year-old brand, and Roberto Martone, chairman of ICR and its distribution arm ITF, announced the fragrance license at Dsquared’s new glossy black, nearly 10,000-square-foot offices in Via Tortona.
“It’s an important step for us as a brand, as it shows we are growing stronger and bigger,” said Dan Caten. “It’s also a part of the new image our company is taking on. Our label has a look, and now it has a smell.”
“It’s the right timing,” added Dean Caten.
This is the sixth fragrance license for ICR-ITF, which also holds fragrance licenses for Roberto Cavalli, Extè, Gianfranco Ferré, Romeo Gigli and Gai Mattiolo.
“I am really impressed with Dsquared’s creativity, and most of all struck by the potential of the brand — that really stands as the driving force behind this agreement,” said Martone.
Development of Dsquared’s first fragrance is already under way. The scent is scheduled to be launched in September 2007, with a follow-up fragrance slated to bow a year later. Whether the scents will be women’s or men’s is still to be decided.
“Dan and Dean have a very precise idea in their minds about what they want for their first fragrance, down to the packaging and the bottle, which for us is an exciting way to work,” said Martone.
Dsquared signed a 12-year contract with ICR-ITF for production and distribution of fragrances and cosmetics, a pact that will be renewable every five years. Distribution plans call for expansion from Italy and Europe in 2007 and a full distribution network that’s expected to comprise some 35 countries by 2009, including countries in North America, the Mideast, Central and South America, and Asia. Martone said the fragrances will be distributed in 8,000 doors and be rolled out to 14,000 points of sale.
Martone and the designers said that although a cosmetics line isn’t ruled out for the future, for now the license will remain fragrance-focused.
Both parties refused to disclose financial terms of the agreement. Industry sources estimate Dsquared’s first-year fragrance sales could reach about 10 million euros, or $11.9 million at current exchange.
“The brand has massive potential,” said Martone.
Dsquared closed 2005 with turnover of about 70 million euros, or $83.6 million. In addition to the fragrance license, the fashion house currently holds a clothing and accessories production license with Staff International, a women’s footwear license with Vicini and a men’s footwear license with Galizio Torresi.