Beauty behemoth Coty has announced the signing of a new agreement with luxury label Etro, “to produce and distribute its signature fragrance lines and home scent collections beyond 2040”.

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They will also “work together to explore new categories and innovations to grow the brand’s beauty portfolio”.

It’s a key move for Etro as it’s a long-term deal in the beauty arena with a company that’s one of the most powerful globally.

Coty said the signing also “further reinforces” its own reputation as the “go-to partner for Fashion Houses and global brands looking to create or elevate their beauty portfolios”.

CEO Sue Nabi said: “This agreement further underscores Coty’s focus on fashion-driven licenses with significant multi-category potential, which resonate with consumers in our key markets.”

And the Italian label’s CEO Fabrizio Cardinali called it “another invigorating chapter for Etro as we continue to bolster the evolution of our beauty portfolio. The collaboration will enable us to leverage synergies between our companies while taking advantage of Coty’s expertise and industry-leading capabilities”.

Coty will now assume the development, production, and distribution of all Etro perfumes and fragrances, including Shantung and Paisley.

Originally family-owned, Etro has been controlled by L Catterton since mid-2021. It’s creatively directed by Marco De Vincenzo who joined in June 2022.