Coty has renewed its fragrance license agreement for more than 20 years with Bruno Banani; Coty has also renewed its fragrance license agreement with Mexx for 25 years.
In its latest financial report, Coty noted that the prestige fragrance category continued to see robust growth across North America and Europe, with nearly all major markets generating double-digit percentage growth, led by the U.S. market, Canada, Germany and Spain.
Bruno Banani will focus on boosting its position with consumers in established markets via expansion and premiumization of its portfolio into new categories and innovations, per Coty.
Mexx’s fragrance line was first launched in 2000 and has reportedly grown to become one of the top four fragrance brands in Germany.
Sue Nabi, Coty’s CEO, said, “I am delighted we have renewed our highly successful partnership with Bruno Banani as the brand celebrates its 30th anniversary. Since winning the license in 2015, Coty has cemented Bruno Banani's position as Germany’s leading fragrance brand with the iconic Man and Woman. With the introduction of further blockbuster fragrance innovations, such as Loyal Man and Magnetic Woman, as well as other highly successful body care lines, Coty has built Bruno Bananiinto one of the leading consumer beauty brands in Germany, Benelux, and Eastern Europe."
Jan Jassner, CEO of Bruno Banani, said, "We are excited to extend our dynamic partnership with Coty as we continue to bolster the positioning of our brand in beauty. This marks yet another exciting milestone in our ongoing relationship with Coty, as we work to bring our shared vision and values to life, across ever-evolving new categories, segments, and consumer groups."
Of the Mexx deal, Nabi said, “We are delighted to further strengthen our thriving relationship with Mexx. Mexx is renowned for its range of classic, fresh fragrances and for pushing the category boundaries on sustainability. This long-term extension of our partnership will enable us to accelerate the brand’s momentum and fuel ambitious expansion plans into dynamic new markets and categories. We are all excited to collaborate on the next chapter of Mexx’s growth as we unleash the brand’s potential.”
“Our ongoing relationship with Coty mirrors that of Mexx’s foundation; a highly collaborative partnership between two compatible, complementary forces," said Ron Janssen, co-founder of RNF/Mexx Group. "We look forward to building upon our successful partnership with Coty as we refresh our signature lines and look toward exciting new growth opportunities."
Stefano Curti, chief brands officer, consumer beauty at Coty, added, “This agreement builds upon the significant synergies we have created with Mexx, and will enable us to continue the premiumization of the brand and its category expansion. We look forward to working closely with Mexx as its founders Ron Janssen and Ferry Helmer continue to bring the vision to life, anchored in our shared values of collaboration, innovation, and sustainability.”