Coty Inc. Announces Agreement With Madonna's MG Icon Global icon to launch her first fragrance, Truth or Dare by Madonna
NEW YORK, Nov. 4, 2011 /PRNewswire/ -- Coty Prestige, a division of Coty Inc., announced today that it signed an agreement with MG Icon LLC, a joint venture between Madonna, Guy Oseary, and Iconix Brand Group, Inc. (Nasdaq: ICON), to launch the icon's first fragrance. The fragrance, Truth or Dare by Madonna, will debut exclusively at Macy's in April 2012 in the United States, with global distribution beginning in May.
The agreement with Coty marks the first time Madonna, the top selling female recording artist of all time, with more than 300 million records sold worldwide, will launch a fragrance.
Madonna stated to Women's Wear Daily, "I have always been obsessed by fragrance and for years wanted to create something personal that was an expression of me but that other people could relate to as well. Something honest, and yet daring, hence the name Truth or Dare."
"Madonna is the marquis addition to Coty's unrivaled brand portfolio and further establishes us as cutting edge leaders in the global beauty industry," Bernd Beetz, CEO, Coty Inc said. "We are thrilled to embark on this new venture with Madonna, a global icon with unprecedented star power and cultural relevance."
Madonna will be featured in a global print, television, and online marketing campaign produced in collaboration with Fabien Baron of Baron & Baron who she has worked with on many projects including "Sex," her renowned 1992 pictorial essay on sexuality.
"Madonna is an artistic phenomenon whose vision has helped define the cultural zeitgeist for nearly three decades. Her fans around the world have an unparalleled devotion and will be eager to experience a unique, and more personal, materialization of her talent," Michele Scannavini, President, Coty Prestige said.
Truth or Dare by Madonna will be a signature floral fragrance. Its unique blend of narcotic florals, balanced with addictive woods and vanilla, creates a scent that is timeless, yet contemporary, simultaneously dark and light. The bottle plays up the Truth or Dare duality – a classic and sophisticated shape, with modern and edgy detailing.
The scent will be available in a 75ml EDP ($68 / euro 62), 50ml EDP ($55 / euro 46), 30ml EDP ($39 / euro 35), Body Lotion ($28 / euro 22), and Shower Gel ($24 / euro 21).
"Madonna is a globally recognized music and style pioneer. The debut of her first fragrance is a dynamic platform to launch her lifestyle brand, Truth or Dare by Madonna," commented Neil Cole, CEO, Iconix Brand Group. "Coty is a respected leader in the prestige fragrance industry. Their expertise coupled with Madonna's iconic status is a powerful partnership."
About Coty Inc.
Coty was created in Paris in 1904 by Francois Coty who is credited with founding the modern fragrance industry.
Today, Coty Inc. is a recognized leader in global beauty with annual net sales of over $4 billion. Driven by an entrepreneurial spirit, passion, innovation and creativity, Coty Inc. has developed an unrivaled portfolio of notable brands and delivers its innovative products to consumers in 90 markets worldwide.
The Coty Prestige brand portfolio is distributed in prestige and ultra-prestige stores and includes Balenciaga, Bottega Veneta, Calvin Klein, Cerruti, Chloe, Chopard, Davidoff, Jennifer Lopez, Jil Sander, JOOP!, Karl Lagerfeld, Kenneth Cole, Gwen Stefani, Lancaster, Marc Jacobs, Nikos, philosophy, Roberto Cavalli, Sarah Jessica Parker, Vera Wang, Vivienne Westwood and Wolfgang Joop.
The Coty Beauty brand portfolio is more widely distributed and includes adidas, ASTOR, Baby Phat, Beyonce Knowles, Celine Dion, Chupa Chups, David and Victoria Beckham, Esprit, Exclamation, Faith Hill, GUESS?, Halle Berry, Heidi Klum, Jovan, Kate Moss, Kylie Minogue, Lady Gaga, Manhattan, Manhattan Clearface, Miss Sporty, Nautica, N.Y.C. New York Color, Nicole by OPI, OPI, Pierre Cardin(1), Playboy, Rimmel, Sally Hansen, Stetson, Tim McGraw, TJoy and Tonino Lamborghini.
Coty and Puig S.L. have a strategic partnership for the distribution of the perfume lines of Antonio Banderas, Carolina Herrera, Nina Ricci, Prada, Paco Rabanne and Shakira in the United States and Canada.
For additional information about Coty Inc., please visit www.coty.com.
(1) Not available in North America
MG Icon LLC
MG Icon LLC is a joint venture owned 50% by Iconix (NASDAQ: ICON) and 50% by an entity controlled by Madonna and Guy Oseary. MG Icon develops and explores business initiatives globally including the creation and acquisition of brands as well as exploring opportunities within the Iconix portfolio. MG Icon holds a direct-to-retail license agreement with Macy's, Inc. for the "Material Girl" collection. "Material Girl" is a newly created, fast-fashion junior collection.
Iconix Brand Group, Inc.
Iconix Brand Group, Inc. owns, licenses and markets a growing portfolio of consumer brands including CANDIE'S (R), BONGO (R), BADGLEY MISCHKA (R), JOE BOXER (R) RAMPAGE (R) MUDD (R), LONDON FOG (R), MOSSIMO (R) OCEAN PACIFIC (R), DANSKIN (R) ROCA WEAR (R), CANNON (R), ROYAL VELVET (R), FIELDCREST (R), CHARISMA (R), STARTER (R), ZOO YORK (R) and WAVERLY (R). In addition, Iconix owns an interest in the ARTFUL DODGER (R), ED HARDY (R), ECKO (R), MARC ECKO (R), MATERIAL GIRL(TM) and PEANUTS (R) brands. The Company licenses its brands to a network of leading retailers and manufacturers that touch every major segment of retail distribution from the luxury market to the mass market in both the U.S. and worldwide. Through its in-house business development, merchandising, advertising and public relations departments Iconix manages its brands to drive greater consumer awareness and equity.
SOURCE Coty, Inc.