Coty has extended its license to develop Marc Jacobs Beauty for 40 years, following the brand’s transfer earlier this year from LVMH Moët Hennessy Louis Vuitton to WHP Global and G-III Apparel Group. Financial terms of the agreement were not disclosed.
Coty has worked with Marc Jacobs since 2003, launching fragrances including Daisy Marc Jacobs, Daisy Wild and Perfect Marc Jacobs. The company announced plans to develop makeup with the brand in 2023. The latest makeup range launched in May, marking the second iteration of Marc Jacobs’ makeup brand after its original debut with Kendo Brands in 2013 and its closure in 2021.
The makeup line is available in the U.S., U.K., Australia and Canada through Sephora, as well as online. Coty said sales are exceeding targets. The brand ranks among Sephora’s top 20 makeup brands in the U.K. and Australia and New Zealand, while its eyeliner and eyeshadow are among the retailer’s top five in the U.S.
Coty executive chairman and interim CEO Markus Strobel said the extension builds on a partnership spanning more than two decades. WHP Global founder, chairman and CEO Yehuda Shmidman described beauty as an important part of Marc Jacobs’ relationship with consumers, while G-III Apparel Group chairman and CEO Morris Goldfarb said the renewed agreement reflects confidence in the brand’s long-term potential.
LVMH completed the sale of Marc Jacobs to WHP Global and G-III on Sept. 1 for approximately $925 million. WHP Global and G-III each own 50 percent of the brand, while G-III also acquired its operating business.
Sources: WWD.