THE WHAT? Coty and Interparfums have denied reports that they are in discussions over the sale of fragrance licences for Hugo Boss and Burberry.

THE DETAILS Coty stated that claims it is considering selling any of its prestige brand licences are “categorically false,” rejecting reports suggesting talks with Interparfums. Interparfums CEO Philippe Benacin also confirmed that no discussions are taking place. The speculation comes amid Coty’s broader efforts to refocus its business under interim CEO Markus Strobel, who is prioritising core brands such as Hugo Boss and Burberry fragrances, while conducting a strategic review of its makeup division.

THE WHY? The denial aims to clarify Coty’s strategic direction and reassure stakeholders as the company works to stabilise performance and focus on its key prestige assets.

Source: Reuters