As part of its larger strategy to maintain a tight portfolio of high calibre luxury brands, P&G Prestige division of has announced a beauty licensing deal with and Alexander McQueen.
The long-term deal with McCartney will be effective as of September 13, with McCartney’s old agreement with L’Oréal expiring officially on September 12. P&G Prestige vice president Luigi Feola says the company intends to develop the existing business into a fully-fledged global beauty house while focusing on building fragrances, according to WWD.
Stella McCartney is a truly iconic global brand with a modern, naturally sexy and confident approach to fashion. She has a unique, responsible approach to luxury and design. We look forward to extending that approach to beauty even further,” says P&G president Joanne Crewes. Stella McCartney enhances the P&G Prestige portfolio, and her passionate consumer base will enable us to reach more women around the world.”
McCartney adds, "It is just an incredibly exciting time to look at the world of Stella McCartney beauty and to have such an opportunity with such a great partner in P&G Prestige that understands my beliefs. I am incredibly excited to get working and to start a new world of beauty for us.”
While P&G has to wait for the McCartney deal, the McQueen beauty license is effective immediately. The company has signed on to develop and market a men’s and women’s fragrance business. We believe it’s probably the most prominent brand that is not yet playing in the luxury beauty market,” Feola told WWD.
With beliefs that P&G Prestige share their ambition for the brand, Alexander McQueen president and chief executive Jonathan Akeroyd says the deal is really exciting for us. We’ve been taking our time to re-enter the market, to make sure we picked the right partner at the right time.” Alexander McQueen fashion designer Sarah Burton is expected to help in the development of the fragrance.
Other brands at P&G Prestige include Hugo Boss, Dolce & Gabbana, Gucci and . We are always looking for brands of high potential,” says Feola.
