Coty has announced that it has completed the acquisition of the exclusive, long-term global license rights for Burberry Beauty, luxury fragrances, cosmetics and skin care.

Coty will have overall responsibility for strategic direction on the portfolio’s development, working in partnership with Burberry who will lead on creative elements.

“We are pleased to complete this transaction and move forward with our strategic partnership, combining Burberry’s British heritage of innovation, craftmanship and design with Coty’s expertise and leadership in luxury beauty products. Coty’s world-class ability in developing and bringing to market beauty brands will help drive a new phase of development and growth for Burberry Beauty,” said Camillo Pane, Coty CEO.