The multi-million dollar deal between Coty and Procter & Gamble has not been a seamless transition, with two major brands having recently been dropped amidst the acquisition.
Last year’s $US12.5 billion deal that saw 43 P&G brands transferred over to Coty no longer includes the Christina Aguilera Perfumes, nor Dolce & Gabbana fragrance licenses which haven’t provided consent for the takeover.
Coty told WWD: “The licensors of the Dolce & Gabbana and Christina Aguilera Perfumes licenses did not provide their consent within the specified timetable, and in accordance with the transaction agreement and in the interest of staying on track with the transaction, it was agreed that these brands will not transfer upon completion of the merger.”
It is expected that P&G will negotiate with both brands, with spokesman Paul Fox commenting: “We will work with the two license holders where consent was not granted on [the] next steps given that we have made our intention to exit the fragrance business clear.”