The Procter & Gamble Company 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.
McCartney's licensing deal with YSL Beauté/L’Oréal ends September 12.
“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!”
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.
Stella McCartney is a 50/50 joint venture partnership between McCartney and Kering established in 2001. A lifelong vegetarian and animal activist, McCartney does not use any leather or fur in her designs or allows any animal testing.