Elizabeth Arden has announced to acquire the P&G’s Christina Aguilera fragrance brands, after a deal between P&G and Coty fell through in January.
Reportedly, the deal which is expected to close in the first quarter of fiscal 2017, will see Elizabeth Arden take over the global license and related assets for the 35-year-old US singer songwriter’s Christina Aguilera fragrances for an undisclosed sum.
Commenting on the same, George Cleary, President Global Fragrances at Elizabeth Arden, informed mediapersons, “We are tremendously excited with our agreement to acquire the Christina Aguilera fragrance license. This stellar brand is one with a global footprint and a significant international presence in Europe. This acquisition is consistent with our strategy to acquire brands to grow our fragrance business on a global basis, and we look forward to working with Christina to advance the success of this luxury, longstanding fragrance brand."
Known for its seven sub-brands, Christina Aguilera fragrances’ star products includes X Pose, Woman, Unforgettable, Red Sin, Royal Desire, By Night and Inspire.
The scents will now join Elizabeth Arden’s wider celebrity fragrance portfolio, which includes Britney Spears, Taylor Swift, Nicki Minaj, Mariah Carey and Justin Bieber.
Meanwhile, sharing her take over the acquisition deal, Aguilera said, “I really enjoy developing my fragrances and I am excited to continue the process with Elizabeth Arden. Their commitment to creating fragrances is important to me and I know they will do a great job helping me deliver top quality product to my fans.”
The acquisition comes at a time when Elizabeth Arden’s celebrity fragrance sales have been under close observation.
Significantly, in Q4 2015, Arden saw sales of non-Arden branded fragrances drop by 9 per cent, which the company put down to lower levels of new fragrance innovation. However, in the spam of three months, ended on 31 March 2016, celebrity, heritage, designer and other fragrances did see a 2.7 per cent increase in net sales from $102.94m in Q3 2015 to $103.07m, informed global agencies.
