Luxury fashion designer announces first foray into beauty with a multi-year licensing agreement.
NEW YORK, Sep 14, 2011 (BUSINESS WIRE) — The Estée Lauder Companies Inc. (NYSE: EL) announced today that its Aramis and Designer Fragrances Division (ADF) will assume the exclusive worldwide license for the fragrance business of Marni, a Milan-based luxury fashion company found by Consuelo and Gianni Castiglioni in 1994. Marni has gained notoriety in the fashion industry with a recognizable and unique aesthetic. The brand reveals a playful charm built on experimentation and research, exclusive prints, combinations of textures and colors. Terms of the deal were not disclosed.
“Wearing Marni is like wearing a piece of art. It is an expression of individuality. Few designers can make the fashion community smile the way Consuelo does,” says Veronique Gabai-Pinsky, Global Brand President, Aramis and Designer Fragrances. “Marni adds to our overall strategy by building on our European fragrance business in the high end segment. Marni is a luxury brand with a loyal cult like following that appeals globally to a sophisticated, trend-conscious customer.”
“We are delighted to be working with the Estée Lauder Companies, a world leader in fragrance, cosmetics and skin care, to expand our business,” said Gianni Castiglioni, CEO Marni. “They are one of the best when it comes to creating and marketing fragrances. We look forward to collaborating with them and to expressing Marni in a new creative platform.”
The first product introduction will be unveiled in Fall of 2012.
About Marni Group
In 1994, Consuelo and Gianni Castiglioni launched Marni, the iconic luxury, eclectic women’s clothing and accessories collection. The designer, Consuelo Castiglioni, created an avant-garde spirit balancing exceptionally-crafted ready-to-wear with a complete line of accessories. Consuelo’s modern approach to materials and silhouette, juxtaposing color, exclusive prints and textures has resulted in a new, unique form of functionality.
In addition to the women’s collection, Marni men’s launched in Spring Summer 2002 followed by Eyewear for Fall Winter 2005-06 and Marni Edition collections in 2009.
Marni’s distribution strategy targets a selective, niche clientele. Retailing at over 320 points of sale worldwide, in 2000, Marni began a roll out of freestanding Marni boutiques and shop-in-shop. Today, over 100 Marni stores figure in the world’s key fashion capitals of Milan, London, Paris, Madrid, New York, Los Angeles, Las Vegas, Miami, Moscow, Tokyo, Seoul, Sydney, Singapore, Hong Kong, Shanghai, Beijing and Dubai. Overseeing the stores’ interior design, Consuelo maintains the distinctive Marni concept by giving each location its own, authentic character.
About The Estée Lauder Companies Inc. The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M-A-C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, American Beauty, Flirt!, GoodSkin Labs, Grassroots Research Labs, Sean John, Missoni, Daisy Fuentes, Tom Ford, Coach, Ojon, Smashbox and Ermenegildo Zegna.
The forward-looking statements in the remarks of Mr. Castiglioni and Ms. Gabai-Pinsky above involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, especially for fragrances, shifts in the preferences of consumers as to where and how they shop for the types of products the Company sells, competition and those described in the annual report on Form 10-K of The Estée Lauder Companies Inc. for the fiscal year that ended June 30, 2011.
SOURCE: The Estée Lauder Companies Inc.