NEW YORK — Coty is really stretching its cosmetics horizons.
On Thursday, the company announced a licensing deal with DuPont Textiles & Interiors for exclusive use of its Lycra brand for cosmetics applications. Terms were not disclosed.
Lycra is Wilmington, Del.-based DuPont’s brand of spandex, the synthetic fiber used in clothing in small amounts to add the properties of stretch and recovery. The spandex polymer also can be made into other forms, such as membranes, for applications like medical gloves.
Steve McCracken, president of Wilmington, Del.-based DuPont Textiles & Interiors, said the deal amounted to more than a licensing of the Lycra brand name. “There is something behind the name, there has to be a technology that provides a superior product,” he said. But he declined to discuss how Lycra-related technology would be incorporated into cosmetics applications, referring those questions to Coty officials.
In a statement, Bernd Beetz, chief executive officer of Coty Inc., said, “Our new relationship with DTI and the Lycra brand further demonstrates Coty’s continued commitment to bring new technology and innovation to lifestyle brands.” Coty execs could not be reached .
Coty’s course to develop “lifestyle” brands has already resulted in tie-ins with celebrities Jennifer Lopez, Celine Dion and twins Mary-Kate and Ashley Olsen, along with pop culture favorites ranging from Club Med Resorts and Chupa Chups lollipops. The Lycra agreement is a unique license in that it could deliver technology benefits along with an image.
The companies said specific product plans will be announced in the future.