NEW YORK, Feb. 17, 2014 /PRNewswire/ -- Leading global beauty company Coty Inc. (NYSE: COTY) and Piaggio Group (PIA.MI) the leading European manufacturer of two-wheel motor vehicles, announced today the formation of an exclusive partnership to create, develop and distribute a signature duo of fragrances for men and women under the Vespa name.
Vespa is one of Italy's most iconic brands. A symbol of Italian style, technology, creativity and elegance worldwide, Vespa is not just a scooter, but an icon. Having sold over 18 million scooters since its creation in 1946, Vespa's success is a truly unprecedented phenomenon.
The duo Vespa fragrance line is expected to debut in May 2014.About Coty Inc.Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2013. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty's product offerings include such global brands as adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. About Vespa Manufactured by the Piaggio Group since 1946, Vespa is one of the most popular and best-known Italian products. In recent years Vespa has had extraordinary commercial success: from 2004 - when overall sales reached 58,000 units - the numbers grew to 122,000 in 2009, 165,000 in 2012, and 188,633 Vespas sold in 2013. Vespa tripled its production in ten years, during which more than a million of new Vespas hit the streets all over the world. Today Vespa is more than ever a global brand, a true citizen of the world, and it is manufactured in three production sites: Pontedera, in Italy, where Vespas have been produced without interruption from 1946, destined for Europe and the western markets, including the Americas; Vinh Phuc, in Vietnam, which serves the local market and the Far East; in India, in the brand new Baramati plant where Vespas for the Indian market are produced. SOURCE Coty Inc.