Coty Adds Ultra Premium Skincare Brand Orveda to Prestige Portfolio
November 18 2021 - 8:30AM
Business Wire
New licensing deal expands Coty’s skincare
portfolio with vegan, sustainably-minded and genderless
high-performance product line anchored in microbiome science
Coty Inc. (NYSE:COTY) announced today that it has entered into a
licensing agreement with Orveda, an ultra-premium skincare brand
made in France. The diversity-owned haute-professional skincare
combines the best of nature with cutting-edge biotechnology and
dermatological benefits to help consumers achieve a healthy skin
glow that rivals makeup.
Founded in 2014, Orveda products are known for their exceptional
quality and high concentrations of proven active ingredients that
work with the skin rather that against it, to produce clinical
level efficacy. Orveda pioneered the microbiome and prebiotics
science in skincare, with all products being vegan,
sustainably-minded and genderless.
The Orveda range of 22 healthy skin glow activators & one
Home Scent has won multiple leading beauty awards and recognitions,
including the Marie Claire Prix D’Excellence De La Beaute 2021,
CosmetiqueMag Awards 2020, and Elite Magazine Beauty Award 2019. It
is the brand of choice for royalty and A-list celebrities.
Coty plans to immediately begin to integrate Orveda and its
know-how in microbiome science into the company’s Prestige
portfolio, with Coty developing, manufacturing and distributing the
full range of Orveda products globally. Orveda’s brand and product
development and global marketing will be managed by Coty Chief
Prestige Brands Officer, Constantin Sklavenitis.
“We are thrilled to welcome Orveda to Coty and look forward to
further accelerating the industry-disrupting, high-performance
skincare line that has built a cult following in just a few years,”
said Sklavenitis. “Building a best-in-class skincare offering is a
key strategic priority for Coty and the addition of Orveda to our
product lineup is a major step toward achieving our goal, in
particular since ultra premium is the fastest growing category. We
also see great potential for Orveda in the Chinese market, a key
strategic focus for Coty.”
As part of the agreement, Orveda co-founder and sole owner
Nicolas Vu will continue to lead the company as its CEO and partner
closely with Coty on the brand’s development, in addition to
advising Coty on its Diversity, Equity and Inclusion agenda. Coty
CEO Sue Y. Nabi, co-founder of the brand with Vu, no longer has an
ownership interest in Orveda or any formal role since joining Coty
as its CEO; however, Nabi’s deep understanding of the Orveda brand
coupled with her vision for Coty’s long-term skincare strategy
makes Coty the ideal partner to accelerate Orveda’s growth.
“Coty knows that high-performance, high-quality skincare is the
future of luxury beauty,” said Vu. “We are excited about the
support that Coty’s scale and resources will provide as we continue
to introduce Orveda worldwide. I would like to thank Coty’s Board,
led by Peter Harf, for this opportunity and for choosing Orveda as
a diversity-owned brand, which is also testament to the company’s
focus on Diversity, Equity and Inclusion.”
Orveda products include cleansers, serums, eye and lash care
treatments, moisturizers, and masks, and are available in the most
selective ultra-premium doors and e-commerce platforms across 15
countries.
This license arrangement will not be material for Coty in the
near-term. Additional details on this license arrangement will be
included in Coty’s Form 10-Q for the period ending December 31,
2021.
About Orveda
Orveda is a multi-award winning, ultra-premium luxury skincare
brand made in France. The haute-professional line combines the best
of nature with cutting-edge biotechnology and dermatological
benefits. Founded by leading beauty industry entrepreneurs, Sue Y.
Nabi and Nicolas Vu in 2014. Orveda offers formulas concentrated in
prebiotics, plus active ingredients painstakingly selected to work
with, not against, the skin’s own biology to activate its precious
self-renewal power and restore the skin’s natural glow. With a
guiding ethos of being ‘kind to skin, kind to society and kind to
the environment’, Orveda’s skincare range is manufactured ethically
with entirely vegan formulations. For additional information about
Orveda, please visit http://www.orveda.com/uk/ or follow us at
@orvedaskincare on Instagram, Facebook and Twitter.
About Coty
Coty is one of the world’s largest beauty companies with an
iconic portfolio of brands across fragrance, color cosmetics, and
skin and body care. Coty is the global leader in fragrance, and
number three in color cosmetics. Coty markets, sells and
distributes the products in approximately 130 countries and
territories. Coty and its brands are committed to a range of social
causes as well as seeking to minimize its impact on the
environment. For additional information about Coty Inc., please
visit www.coty.com.
Source: Coty Inc.
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For more information, please contact:
Investor Relations Olga Levinzon 212-389-7733
Olga_Levinzon@cotyinc.com
Media Antonia Werther +31 621 394495
Antonia_Werther@cotyinc.com
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