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Lacoste is known for its creative activations of its popular crocodile logo.
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One aspect that has attracted attention in the luxury or high-cost brand market is diversification into mass consumption segments.
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Like Lacoste, Tom Ford gave important indications of the value of well-known names in the perfume and makeup business.
Lacoste will undertake a new business romance in 2024, which will last as stipulated in the papers, 15 years, after announcing the break with Coty, a brand that recently renewed its contract with Hugo Boss and this couple will maintain the production of the famous perfumes with the name of the German firm.
The use of trademarks as a license, for the sale of makeup or perfumery products is part of an interesting projection from Trefis.com, where he realizes that in 2023, the perfume market will reach a global value of 29 thousand 400 million dollars.
If we look at the history of the size of the global perfume market, the growth in its appreciation has been constant and has not disappointed even in health contingencies, where the increase in value was notable.
Like Lacoste, we have witnessed significant growth in the brand value of the firms that license their names to make perfumes or makeup, because the importance of understanding consumption in the market depends on it, and more than that, determining what is acceptable in the market where the image and aromas are increasingly appreciated by the consumer.
After divorce, new business partner
Lacoste has become a business partner with interparfums and the measure is part of a strategy with which the famous French firm is renewing its presence in the perfume market, where it previously competed hand in hand with Coty.
The new agreement stipulated after 15 years of business marriage, will begin in January 2024 and assigns all rights to perfumery and cosmetics with the popular crocodile, both in creation, production, development of ideas, as well as marketing both in the company’s own stores brand, such as in dealer stores.
“interparfums it will be a key asset to continue the development of our perfume category, which plays an important role in the reputation of our brand”, explained Thierry Guibert, president of Lacoste.
As a business partner of Coty, this firm developed L’Homme perfumes for Lacoste and Match Pointwhich became part of the 30 percent growth recently reported by the French firm, which currently employs 8,500 people worldwide.
This movement is one of the many announcements that were made in the field of perfumery and beauty before the end of 2022, where one of the most famous negotiations was carried out by Tom Ford, who sold his cosmetics and perfumery division to Estée Lauder for two thousand 800 million dollars.
The aforementioned movements are testimony to the diversification of luxury brands into mass business channels, which allow for significant product marketing, through which they can generate experiences and greater interest on the part of the consumer towards their products, who are interested in experiences based on proposals such as perfumes or makeup.
