Coty CEO: Gucci is staying with us for the next five years

Coty CEO: Gucci is staying with us for the next five years

THE WHAT? Coty CEO Sue Y Nabi has reassured investors following the announcement of Kering’s acquisition of Creed.

THE DETAILS Speaking to journalists last week, per an article published by Reuters, Y Nabi said that the Gucci licence would rest with Coty for the next five years: “There will be no discussion on the renewal of any of our licences before at least five years.”

THE WHY? As we reported at the time of the Creed deal, Kering issued a clear statement of intent as it announced its latest acquisition, revealing that the luxury perfume house would bring the required scale though which Kering could support the future development of other franchise fragrances, leading this publication to question whether the luxury conglomerate was about to take its beauty business back in house.

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WELLNESS

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