Nautica Apparel Inc., a subsidiary of Nautica Enterprises, Inc., a division of VF Corporation today announced it has signed a new global licensing agreement with Coty Inc. to develop, produce and market fragrances and beauty products for the Nautica brand. Under the terms of the agreement, Coty Inc. will launch new prestige fragrances in department stores through its Lancaster Group division and will also distribute the existing Nautica fragrance brands: Nautica Classic for men and women, Latitude Longitude and Nautica Competition. Financial terms of the agreement were not disclosed and follows the expiration of the term of the fragrance license held by Unilever since 1998.
“We are excited to announce this partnership with Coty Inc. Coty is a global leader with a stellar track record of launching and maintaining very successful branded fragrances. We feel confident that they are the right strategic partner for Nautica,” said Denise V. Seegal, President and CEO of Nautica Enterprises, Inc. “As we continue to extend the Nautica lifestyle brand around the world, Coty's global reach and understanding of international markets is very important to the success of our own long-term global growth strategy.”
Bernd Beetz, CEO of Coty Inc. said of the agreement, “We are very pleased to be forming an alliance with Nautica, a leading global brand that embodies timeless design and quality. We see this partnership as a strong strategic complement to Coty's portfolio of lifestyle brands. Nautica embodies many of the qualities that we seek as a company: momentum that allows us to bring products to market faster, creativity that matches our consumers' desire for expressions of their own freedom and a determination to take our ideas further and further for success.”
Founded in 1983, Nautica is a leading global lifestyle brand with products ranging from men's, women's and children's apparel and accessories to a complete home collection. Nautica products are styled in timeless design and premium quality that enhance our consumer's energetic lifestyle yet recognize their desire for balance. Since August 2003, Nautica is part of VF Corporation, a leader in branded apparel including jeanswear, intimate apparel, sportswear, outdoor products and workwear. Its principal brands include Nautica(R), Lee(R), Wrangler(R), Vanity Fair(R), Vassarette(R), Bestform(R), Lily of France(R), Earl Jean(R), John Varvatos(R), JanSport(R), Eastpak(R), The North Face(R), Vans(R), Napapijri(R), Kipling(R). For additional information, please go to http://www.nautica.com.
About Coty Inc.
Coty Inc. is one of the world's largest and most successful beauty companies with sales of $1.95 billion in 2004. With operations in more than 25 countries, Coty Inc. boasts a global brand portfolio of unrivalled breadth and scope, spanning the three core categories of fragrance, color cosmetics and skincare in the prestige, mass and masstige distribution sectors.
Lancaster Group, the prestige division of Coty Inc., has a portfolio of brands including Davidoff, Jennifer Lopez, Lancaster, Jil Sander, JOOP!, Nikos, Chopard, Vivienne Westwood, Marc Jacobs, Kenneth Cole, Baby Phat and Sarah Jessica Parker. Coty Beauty, Coty Inc.'s mass and masstige division, markets brands such as adidas, the healing garden, Rimmel, Calgon, Celine Dion, Stetson, Jovan, Aspen, Isabella Rossellini, Astor, Esprit, mary- kateandashley and Miss Sixty. Additional information on Coty is available at http://www.coty.com.