Coty Inc. has completed the acquisition of the exclusive long-term global license rights for Burberry Beauty luxury fragrances, cosmetics and skincare.

Coty will have overall responsibility for strategic direction on the portfolio’s development, leveraging its global capabilities in beauty strategy, innovation, supply-chain and go-to-market, working in partnership with Burberry who will lead on creative elements. Burberry beauty products will be sold in leading luxury beauty retailers globally as well as in Burberry stores and digital channels

“We are pleased to complete this transaction and move forward with our strategic partnership, combining Burberry’s British heritage of innovation, craftsmanship and design with Coty’s expertise and leadership in luxury beauty products,” said Camillo Pane, Coty CEO. “Coty’s world-class ability in developing and bringing to market beauty brands will help drive a new phase of development and growth for Burberry Beauty."

Edgar Huber, president Coty Luxury, said Burberry ”fits perfectly with Coty Luxury’s portfolio, which includes contemporary and globally relevant luxury beauty brands. We are uniquely positioned to develop Burberry Beauty to the next level. This is another significant step in building Coty’s Luxury division.”

Marco Gobbetti, CEO, Burberry, commented: “Following months of hard work to ensure a smooth transition, we are pleased that this strategic partnership, which brings together tremendous beauty experience and expertise, has begun. Burberry is incredibly proud of what has been achieved in the last four years and we look forward, with the support of Coty, to further building on these foundations.”