Tory Burch has made the decision between Coty and Estee Lauder Cos. Inc. It was reported today in WWD that Burch signed a licensing deal with Lauder for her first venture into the beauty industry with a brand-new scent by 2013.
Burch told WWD: “For me, beauty was part of the plan since the beginning, especially fragrance. We saw it as a natural addition to what we’re doing now. It was a four-year conversation with Este Lauder — it was all about the right timing for us and for Lauder. We wanted to establish ourselves for who we are and learn who we were, and it’s taken us seven-and-a-half years to really understand, from where our potential is, as well, and growth around the world. What attracted us to the Este Lauder Cos. is that we felt their vision and our vision were completely aligned in the way we look at business and the long term.”
According to the article, the Lauder arrangement is not restricted to fragrance (yippee!) “We start with the fragrance and then do a capsule beauty collection that’s in line with [the designer’s] vision and limited in scope,”William Lauder, executive chairman of the Este Lauder Cos., said during the exclusive interview with WWD.
We don’t know about you, but we couldn’t be more excited about Tory Burch beauty and apparently neither could Lauder.
“It is one of the rising iconic fashion brands that fits perfectly in our portfolio of brands,” he said.
Burch said what is going to set her cosmetic line apart from the others is an accessible price. We’re “giving them something of high quality that’s not a fortune. That’s aligned with the concept of our [fashion] brand.”