Coty Renews Long-Term License Partnership with adidas

Rhea-AI Summary

Coty Inc. has renewed its long-term license agreement with adidas, focusing on the well-being and athleisure trend in beauty. The partnership aims to enhance sports and skin care credibility, with the launch of the adidas Active Skin and Mind range. Coty is driving growth of the brand in China through a digital strategy led by livestreaming on Douyin.

Positive

• Coty Inc. renews long-term license agreement with adidas, capitalizing on the well-being and athleisure trend in beauty
• Launch of adidas Active Skin and Mind range positioning adidas as a leading premium body care line
• Successful response from consumers to the launch of the Active Skin and Mind range

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Today, Coty Inc. (NYSE: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, is pleased to announce that it has renewed its long-term license agreement with adidas.

Sue Nabi, Coty’s CEO, said: “I am delighted we have signed a new agreement in our long-standing partnership with adidas, the global premium sports brand. adidas is perfectly positioned to capitalize on the new well-being and athleisure trend in beauty amongst today’s consumers. In recent months, we have successfully elevated the body care equity of adidas, moving into products that are focused on enhancing sports and skin care credibility. With the launch of the adidas Active Skin and Mind range, we are positioning adidas as a leading premium body care line with superior ingredients and sustainable packaging. Consumers have responded very positively to the launch, and we look forward to building on this progress with an exciting pipeline of further innovations and lines as we drive growth in new and existing markets in the future.”

The partnership of adidas and Coty has been focused on the intersection of personal care, wellness, sports and sports lifestyle, with pioneering research and innovation into areas such as the impact of fragrance on sports performance. The ambition to remain at the leading edge of personal care continues with the new Active Skin & Mind Range and its use of superior active ingredients, such as Hyaluronic Acid complex, and more sustainable sulphate-free formulas to enhance performance.

Coty and adidas’ shared commitment to sustainability remains a central feature of their extended agreement, evidenced in the development of the Active Skin & Mind Range.

Building on the successful launch of the Active Skin & Mind Range in Europe, Coty is driving growth of the brand in China. Active Skin & Mind has forged a partnership with Su Yiming, the Chinese gold medallist in snowboarding, as an ambassador for the brand. Su Yiming understands the demands on the skin of an active lifestyle in the extreme cold, making him an ideal choice for the brand as it looks to capture the attention of Chinese consumers through a digital strategy led by livestreaming on Douyin.

About Coty Inc.

Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Coty serves consumers around the world, selling prestige and mass market products in more than 130 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to protecting the planet. Learn more at coty.com or on LinkedIn and Instagram.

About adidas

adidas is a global leader in the sporting goods industry. Headquartered in Herzogenaurach/Germany, the company employs more than 59,000 people across the globe and generated sales of € 22.5 billion in 2022.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230817367095/en/

For more information contact :

Investor Relations

Olga Levinzon, +1 212 389-7733

olga_levinzon@cotyinc.com

Media

Antonia Werther, +31 621 394495

Antonia_Werther@cotyinc.com

Source: Coty

FAQ

What is Coty Inc.'s partnership with adidas focused on?

Coty Inc.'s partnership with adidas is focused on the intersection of personal care, wellness, sports, and sports lifestyle.

What is the new product range launched by adidas and Coty?

The new product range launched by adidas and Coty is the Active Skin and Mind range, which aims to enhance sports and skin care credibility.

How is Coty driving growth of the brand in China?

Coty is driving growth of the brand in China through a digital strategy led by livestreaming on Douyin.