Hugo Boss and Coty have renewed their licensing partnership – which began in 2016 – all the way through beyond 2035.
The deal covers all Boss and Hugo fragrances for men and women.
“Our CLAIM 5 growth strategy is broad-based. We want to grow across all regions, touchpoints, and brands, as well as in all product areas,” commented Daniel Grieder, ceo of Hugo Boss AG. “We are excited to continue our successful partnership with Coty and are convinced that we have the right partner at our side to exploit the full potential of BOSS and HUGO in the global fragrance business.”
Sue Nabi, ceo at Coty, added: “We are delighted to extend our highly successful partnership with Hugo Boss, one of the leading premium fragrance brands in our portfolio. Together, we have created many iconic male fragrances, which have been enthusiastically received by consumers, and we look forward to build on these successes.”
The US market will have particular emphasis placed on it for men’s fragrances in the coming years, while there are also plans for Hugo Boss to expand its share of Boss women’s fragrances in key European markets and lay the foundation for this segment to grow in the US.
Another strategic focus area is on strengthening the top of the brand’s fragrance range, Boss the Collection. This expansion will specifically enhance the relevance of Boss in speciality markets such as the Middle East and China.
The existing offering for men and women under the Hugo brand will also be reinvented to sharpen the focus on young target groups including Gen Z and to fully reflect the brand’s new ‘Hugo Your Way’ platform.
Sue continued: “Hugo Boss’ impressive market share gains in recent years demonstrates why Coty is the go-to partner for fashion houses, brands and high-profile individuals that want to create leading beauty portfolios under license. This long term extension is in line with Coty’s strategic objective to focus on key brands which can become global powerhouses, while driving a balanced growth agenda across our fragrance portfolio.”
