Coty Inc has announced the incorporation of Coty Prestige Japan KK, a joint venture agreement with Bluebell Beauté. The merger comes as part of a bid to strengthen the company's Japanese presence and accelerate the growth of its fragrance portfolio.
Coty Prestige Japan KK will combine Coty Prestige brands with Bluebell Beauté's commercial expertise in Japan to build on and extend the company's market presence. Under the management of François Saurel, Coty Prestige Japan KK will manage the marketing and commercial decisions for the fragrance portfolio in Japan, while Bluebell Beauté will execute the commercial policy and act as a point of contact for retailers.
“This strategic partnership will utilise local knowledge and increase our capacity to market our products,” said Bernd Beetz, ceo Coty Inc. “This business decision reflects the importance of Japan's fragrance market and the global growth of the Coty Prestige Portfolio.”
The joint venture will allow Coty Prestige Japan KK to manage the entire Coty Prestige fragrance portfolio in Japan, which includes the brands Jennifer Lopez, Calvin Klein, Vera Wang, Vivienne Westwood and Sarah Jessica Parker.
Coty Inc is the world's largest fragrance company with annual net sales of $2.9bn and a portfolio of 40 designer, celebrity and lifestyle brands.