Estée Lauder storefront. Shutterstock.
The magnificence group’s Aramis and Designer Fragrances (ADF) division has licensing contracts with Donna Karan, Michael Kors, Tommy Hilfiger and Ermenegildo Zegna, all of which is able to come to an in depth in June 2023.
Capri-owned Michael Kors has already introduced that has inked a 15-year take care of Italian perfume maker EuroItalia, which already counts stablemate Versace amongst its roster of model companions. Meanwhile, Donna Karan and DKNY fragrances will likely be licensed to Parisian perfume big Inter Parfums.
In an announcement, Estée Lauder Companies stated the transfer “will allow us to totally dedicate our consideration and assets to our highly effective and successful luxurious and status perfume portfolio, together with Tom Ford Beauty, Jo Malone London, Le Labo, AERIN, EDPFM, KILIAN Paris, Estée Lauder and Clinique.”
This yr, Estée Lauder Companies additionally introduced its intention to shutter two manufacturers, Becca Cosmetics and make-up, pores and skin and physique care line Rodin Olio Lusso.
The transfer comes at a time when the perfume sector is seeing a increase second, at the same time as different magnificence sectors nonetheless recuperate from pandemic losses. In the primary quarter of 2021, perfume gross sales reached $954 million, based on information from the NPD Group, an 82 p.c improve from the primary quarter of 2020, and a 35 p.c improve from pre-pandemic 2019.
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