The Procter & Gamble Company (NYSE: 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: