Elizabeth Arden to acquire Christina Aguilera fragrances
George Cleary recently took the role of president of global fragrance at Elizabeth Arden and is working quickly to “expand” the business “into the larger global beauty market,” as he told the press he intends to do.
Far-flung
Christina Aguilera fragrances are well performing global celebrity brands, currently owned by P&G. In fact, Christina Aguilera is the best-selling celebrity scent in Europe and the recipient of numerous awards in North America. It’s this popularity and global brand reach that attracted Elizabeth Arden’s attention. “We are tremendously excited with our agreement to acquire the Christina Aguilera fragrance license,” says Cleary.
“This stellar brand is one with a global footprint and a significant international presence in Europe,” he affirms. “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.”
Celebrity status
As entrepreneurship and corporate transparency become ever more valued by consumers, it’s important that the name behind the brand is more than a name but also an active partner in the product development or business. “I really enjoy developing my fragrances and I am excited to continue the process with Elizabeth Arden,” says Aguilera in Elizabeth Arden’s press release about the acquisition.
“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.”
Business matters
The acquisition announcement comes swiftly on the heels of the company’s third quarter financial results. Elizabeth Arden reported a 1% increase in North American net sales for the quarter. While, “for the fragrance business, designer scents were up 20% in net sales in large part because of the Juicy Couture and John Varvatos brands,” as Cosmetics Design observed.
Financial details of the Christina Aguilera fragrance deal haven’t been made public. And, pending conventional approvals, the acquisition is set to be final in the first quarter of fiscal year 2017.
