The agreement covers the creation, production and distribution of perfumes under the Karl Lagerfeld brand.
Starting today, October 25th, the agreement replaces a previous license between the Karl Lagerfeld and Coty companies, which has been “terminated by mutual consent”. The launch of a new fragrance line is scheduled for 2014.
This agreement is well timed for Interparfums whose license agreement with Burberry was ended recently.
As far as Coty was concerned, “the working relationship with Karl Lagerfeld has always been built on mutual respect and professionalism,” said Jean Mortier, president, Coty Prestige. “It was an honour working with a renowned designer such as Karl Lagerfeld, however, it became increasingly apparent that our companies’ respective strategies were no longer a perfect match."