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Burberry Licenses Its Fragrance and Make-Up Brands to Coty

  • Coty pays $225 million for exclusive global license to brands
  • Burberry seeking to cut costs as it recovers from profit slump
Burberry Body
Photographer: Michael Buckner/Getty Images For Burberry
Updated on

Burberry Group Plc is licensing its fragrance and make-up brands to cosmetics manufacturer Coty Inc., handing over management of a business that has weighed on earnings and held back growth.

Coty will pay about 180 million pounds ($224.9 million) in a deal that gives it the exclusive global license to Burberry’s beauty business and inventory, the trenchcoat maker said Monday in a statement. Burberry will maintain creative leadership over brands such as My Burberry and Mr Burberry fragrances, while tapping Coty’s industry knowledge and distribution network.