Coty and Orveda enter into a new licensing agreement. Allowing Coty to add an ultra-premium skincare brand made in France to their skincare portfolio with a vegan, sustainably-minded and genderless high-performance product line anchored in microbiome science.
(MC MosnarCommunications.com Luxury Press Release) – Coty Inc. (NYSE: COTY) announced that it has entered into a licensing agreement with Orveda. 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.
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.
Founded in 2014, Orveda products are known for their exceptional quality and high concentrations of proven active ingredients that work with the skin rather than 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.
“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, the 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 skin care 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 a 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.