Procter & Gamble and Stella McCartney Announce Fragrance License Agreement
GENEVA & LONDON--(BUSINESS WIRE)-- The Procter & Gamble Company (NYS: PG) and Stella McCartney today announced that P&G Prestige has signed a contract to enter into a license agreement with Stella McCartney to manufacture and sell designer fragrance products. Effective September 13, 2013, P&G will begin to develop and market new initiatives under the Stella McCartney brand name.
"Stella McCartney is a truly iconic global brand with a modern, naturally sexy and confident approach to fashion. She has a unique, responsible approach to luxury and design. We look forward to extending that approach to beauty even further," said Joanne Crewes, President, P&G Prestige. "Stella McCartney enhances the P&G Prestige portfolio, and her passionate consumer base will enable us to reach more women around the world. Her unique point-of-view combined with our expertise in the fine fragrance category, our core strengths in brand building and innovation, and our global retail partnerships, create a perfect partnership for global growth and expansion. We are thrilled!"
Stella McCartney commented: "It is just an incredibly exciting time to look at the world of Stella McCartney beauty and to have such an opportunity with such a great partner in P&G Prestige that understands my beliefs. I am incredibly excited to get working and to start a new world of beauty for us. There is so much energy already and we haven't even started, I just feel like we can do really wonderful things and explore the world of beauty, together, as a team."
The signing of the Stella McCartney fragrance license is consistent with P&G Prestige's strategy to grow the business with strong brands with global leadership potential. Stella McCartney is complementary to P&G's existing designer fragrance portfolio and expands upon their strong luxury fragrance brands.
ABOUT P&G Prestige:
P&G serves approximately 4.6 billion people around the world with its brands. The Company has one of the strongest portfolios of trusted, quality, leadership brands, including Pantene®, Olay®, Head & Shoulders®, Wella®, Gillette®, Braun®, Cover Girl®, and a leading Prestige division that spans from point of market entry consumers to high end luxury beauty with global brands such as SK-II®, Hugo Boss®, Dolce&Gabbana®, Gucci®, Lacoste®, James Bond 007® and Puma®. The P&G community includes operations in approximately 75 countries worldwide. Please visit http://www.pg.com for the latest news and in-depth information about P&G and its brands.
ABOUT STELLA MCCARTNEY:
Stella McCartney is a 50/50 joint venture partnership between Ms. Stella McCartney and Kering established in 2001. A lifelong vegetarian and animal activist, Stella McCartney does not use any leather or fur in her designs or allows any animal testing. The brand's ready-to-wear, accessories, lingerie, fragrance, kids and adidas by Stella McCartney collections are available through 25 other free-standing stores including London, New York, Los Angeles, Tokyo, Hong Kong, Paris and Milan as well around 600 wholesale accounts in key cities worldwide. For more information, please visit stellamcartney.com.
Michela Ratti, Director, P&G Prestige Communications, +41.79.593.4143
Brent Miller, Associate Director, P&G Prestige Communications, +41.79.566.6410
Stephane Jaspar, Director, Worldwide Communications, +1-212-627-1583
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