Unilever is selling its fragrances division, which produces Calvin Klein and Vera Wang perfumes to Coty for $800m (£440m). The perfume brands, which unilever has manufactured under licence from their owners, will join similar licensed products made by Coty such as Adidas and Jennifer Lopez frangrances.
As well as the perfume licenses for Calvin Klein, Cerrut, Vera Wang, Chloe and Lagerfeld, the business includes a manuyfacturing and distribution centre in New Jersey and another in France. The UCI division had suffered from the effects of Sars and the September 11 terrorist attacks in America because so much perfume is bought at airports, but recently seemed to be turning around.
As part of Unilever’s path to growth strategy, the fragrance division was restructured. The company also signed the actress Scarlet Johansson as the new face of ck Eternity moment. The company, which had been criticised for not introduc ing new fragrances qui ckly enough, had launched a number of summer scents. The UCI division had sales of more than $600m last year.
Coty, which has been concentrating on launching further celebrity fragrances, with the addion of Sarah Jessica Parker and David Beckham perfumes this autumn, said that the deal would increase its sales in the US and Europe and give it a much stronger presence in Asia.
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