Balenciaga Signs Deal With Coty Prestige
October 10th, 2008 at 10:13pm |
Balenciaga, one of the most influential names in fashion, is back in beauty.
The design house has signed a deal with Coty Inc.’s Coty Prestige division to create, develop and distribute fragrance lines under the Balenciaga nameplate. The first fragrance is tentatively slated for a spring 2010 launch.
The agreement will be unveiled today.
Terms of the deal were not disclosed. However, with Balenciaga’s revenues reportedly at upward of 100 million euros, or about $136 million at current exchange, at present, according to industry sources, and Coty’s global annual net sales said to top $4 billion, the deal is likely to have far-reaching results.
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