Burberry fragrances, skincare and cosmetics has entered a strategic partnership with Coty’s Luxury division for £130 million.
The cash deal will see Burberry’s beauty join the likes of Alexander McQueen, Hugo Boss and Gucci in Coty’s portfolio.
Described as a ‘long-term’ deal by Coty Luxury president Edgar Huber, the acquisition will see Coty be responsible for the development, manufacturing and distribution of the full range of Burberry Beauty products globally.
“We are uniquely positioned to develop Burberry Beauty to the next level,” said Huber, “This is another significant step in building Coty’s Luxury division.”
Burberry CEO Christopher Bailey echoed these sentiments, saying “Working with a global partner of Coty’s scale and expertise will help drive the next phase of Burberry Beauty’s development and position this business for growth.”
