Coty Adds Ultra Premium Skincare Brand Orveda to Prestige Portfolio
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New licensing deal expands Coty’s skincare portfolio with vegan, sustainably-minded and genderless high-performance product line anchored in microbiome science.
NEW YORK, NY – Coty Inc. (NYSE:COTY) announced today that it has entered into a licensing agreement with Orveda, an ultra-premium skincare brand made in France. 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.
Founded in 2014, Orveda products are known for their exceptional quality and high concentrations of proven active ingredients that work with the skin rather that 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.
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.
“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, 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 skincare 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 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.
Orveda is a multi-award winning, ultra-premium luxury skincare brand made in France. The haute-professional line combines the best of nature with cutting-edge biotechnology and dermatological benefits. Founded by leading beauty industry entrepreneurs, Sue Y. Nabi and Nicolas Vu in 2014. Orveda offers formulas concentrated in prebiotics, plus active ingredients painstakingly selected to work with, not against, the skin’s own biology to activate its precious self-renewal power and restore the skin’s natural glow. With a guiding ethos of being ‘kind to skin, kind to society and kind to the environment’, Orveda’s skincare range is manufactured ethically with entirely vegan formulations. For additional information about Orveda, please visit http://www.orveda.com/uk/ or follow us at @orvedaskincare on Instagram, Facebook and Twitter.
Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, and skin and body care. Coty is the global leader in fragrance, and number three in color cosmetics. Coty markets, sells and distributes the products in approximately 130 countries and territories. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment. For additional information about Coty Inc., please visit www.coty.com.
Source: Coty Inc.