Coty has announced a licensing agreement with luxury brand Orveda, expanding its reach in the premium skin care market. THE DETAILS As part of the deal, Coty plans to integrate Orveda into its prestige portfolio, with Coty developing, manufacturing and distributing the full line of Orveda products globally.
According to a press release, brand development and Orveda’s products and global marketing will be handled by Coty’s Director of Prestige Brands, Constantin Sklavenitis. Meanwhile, Orveda co-founder and sole owner, Nicolas Vu, will continue to lead the company as CEO and will work closely with Coty on brand development. program.
THE REASON WHY? With a range of 22 references of healthy skin radiance activators, Orveda’s luxurious appeal aligns with Coty’s mission to dominate the prestigious skin care market. Sklavenitis said, “We are delighted to welcome Orveda to Coty and look forward to further accelerating the reformance skin care line industry which has built a cult following in just a few short years.
Building a top-notch skin care offering is a key strategic priority for Coty and the addition of Orveda to our product line is an important step towards achieving our goal, especially as the ultra premium is the fastest growing category. We also see great potential for Orveda in the Chinese market, a key strategic objective for Coty.
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