NEW YORK -- (BUSINESS WIRE) --
The Estée Lauder Companies Inc. (NYSE: EL) announced today that its Aramis and Designer Fragrances Division will assume the exclusive worldwide license for the fragrance and grooming business of the Ermenegildo Zegna Group, a one-hundred year old, billion-dollar Milan-based men's luxury clothing and accessory business. Ermenegildo Zegna is world-renowned for its contemporary sophistication, Italian elegance and quality. The license is effective July 1st 2011. Other terms were not disclosed.
The new license provides the Estée Lauder Companies exclusive global rights to market fragrances under the Ermenegildo Zegna Group's brands and develop new product lines in the grooming segment.
"The Ermenegildo Zegna Group and the Estée Lauder Companies share a tradition of serving prestige consumers and retailers over generations of family leadership," said William P. Lauder, Executive Chairman of the Estée Lauder Companies. "We look forward to working with the Zegnas to create products reflective of our companies' mutual dedication to quality, continuous innovation and luxury."
"We are delighted to be working with the Estée Lauder Companies, a world leader in fragrance, cosmetics and skin care, to expand our business," said Gildo Zegna, Chief Executive Officer of the Ermenegildo Zegna Group. "They share our organization's commitment to the highest standards of quality, rooted in strong family values, and a focus on the global luxury market. They are the ideal partner to help us expand the reach and breadth of the Zegna fragrance business and to introduce new product offerings under Zegna's labels."
"By applying our skills in execution, product development and marketing, we are confident that we can develop the Zegna fragrance business and add a successful men's grooming business in the future," said Fabrizio Freda, President and Chief Executive Officer of the Estée Lauder Companies. "In addition to expanding our presence in priority luxury markets, particularly in Asia with a focus on high potential growth in China and travel retail, this agreement provides us another exciting and distinctive entry in the men's business across fragrance and skin care."
Veronique Gabai-Pinsky, Global Brand President, Aramis and Designer Fragrances added, "Ermenegildo Zegna is a wonderful addition to our portfolio of licenses with leading fashion designers. We are looking forward to expanding the brand's reach and to introducing new products, including new grooming offerings, under the Zegna brand."
Ermenegildo Zegna clothing and accessories are currently available in select markets throughout the world, with China as its largest and fastest growing market. Its products are available in luxury retailers and the travel retail channel, as well as in 300 stand-alone stores, where consumers have the opportunity to experience its fragrance products as part of the full Zegna luxury lifestyle experience. The Ermenegildo Zegna fragrance collection currently includes five popular scents in addition to its centennial celebration fragrance and several special editions.
About Ermenegildo Zegna Group
The Ermenegildo Zegna Group is a world leader in luxury men's clothing. Founded in 1910 in Trivero, in the Biella Alps, by the young entrepreneur Ermenegildo, whose vision was to ethically create the world's finest textiles through innovation, sourcing the noblest fibers directly from their markets of origin. Managed today by the fourth generation of the Zegna family, the company celebrated its Centennial in 2010. Since the late 1990's, the company has implemented a comprehensive strategy of verticalization, creating a global luxury brand which now ranges from fabric to clothing to accessories - and focused on retailing, pioneering early entry in emerging luxury markets, BRIC and Asia in particular, and was the first luxury brand to open a monobrand store in China in 1991.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world's leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company's products are sold in over 150 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M-A-C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, American Beauty, Flirt!, GoodSkin Labs, Grassroots Research Labs, Sean John, Missoni, Daisy Fuentes, Tom Ford, Coach, Ojon and Smashbox.
Forward-Looking Statements
The forward-looking statements in the remarks of Messrs. Lauder, Freda and Zegna, and Ms. Gabai-Pinsky above involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, especially for fragrances, shifts in the preferences of consumers as to where and how they shop for the types of products the Company sells, competition, the Company's ability to assume, and integrate, the current Ermenegildo Zegna fragrance business, and those described in the Estée Lauder Companies Inc. quarterly report on Form 10-Q for the quarter ended December 31, 2010.
CONTACT:
The Estée Lauder Companies Inc.
Investor Relations:
Dennis D'Andrea, 212-572-4384
or
Media Relations:
Kathleen Pierce, 212-572-3927
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