Coty Denies Rumors of Selling Prestige Brand Licenses

Coty has firmly denied recent reports suggesting that it is negotiating the sale of its prestige brand licenses, specifically those for Hugo Boss and Burberry, to Interparfums. This denial came in response to a report from the luxury news website Miss Tweed.

A spokesperson for Coty stated categorically that there are no talks to transfer or sell any of its prestige brand licenses. This stance was reinforced by Interparfums' CEO, Philippe Benacin, who confirmed that no discussions are underway.

Coty, which had earlier withdrawn its full-year guidance and warned of potential setbacks in its third-quarter profits, remains committed to its core brands under interim CEO Markus Strobel. The Hugo Boss and Burberry fragrance lines continue to be key components of Coty’s prestige segment and are not part of the current strategic review focusing on its makeup brands.