Coty Inc. announced that it has entered into an agreement with Gemini Cosmetics, Inc. under which Gemini will assume responsibility, on an exclusive basis, for the distribution of Coty Beauty's prestige brands to prestige department and specialty stores in the US market. Through a strategic and focused approach, the distribution partnership between Coty and Gemini will strengthen and grow the Coty Beauty prestige portfolio, according to a press release. Until now, Coty has handled the distribution of its Coty Beauty prestige fragrances in-house.
"The strategic partnership with Gemini Cosmetics allows us to accelerate the growth of Coty Beauty's fragrance portfolio business in the United States," said Bernd Beetz, CEO, Coty Inc. "Using a new distribution partner, we are able to place a greater emphasis and larger focus on growing these brands and on our overall presence in the marketplace. We look forward to a successful partnership that will broaden our reach to the American consumer."
In July 2008, Gemini will begin distributing Coty Beauty's Nautica Voyage and My Voyage, Baby Phat Fabulosity and Kate Moss Kate brands. In addition, Gemini will distribute David and Victoria Beckham Signature fragrances when they launch in the U.S. in September 2008.
"Combining Coty's innovative and inspiring brands with Gemini's strength in distributing powerful products to consumers sets up a win-win for both companies," said Frank A. Fazzinga Jr., chairman and CEO, Gemini Cosmetics. "We are looking forward to working with Coty on this strategic endeavor."
"Gemini Cosmetics is a powerhouse with a proven track record for successful distribution of prestige brands," said Hans-Joachim Honigfort, president, Coty Beauty. "This partnership will enable Coty Beauty to build our prestige portfolio in the U.S. marketplace more quickly and efficiently."
Coty, Gemini Cosmetics Enter Distribution Agreement
$util.date($item.publishDate) | Contact Author | By: Jeff Falk
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