Max Mara has entered into a long-term fragrance partnership with Shiseido, which sees the Japanese beauty relaunch fragrances globally for the Italian luxury brand.
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The agreed terms of the partnership will be incorporated into a formal license agreement, managed by Shiseido EMEA, a consolidated subsidiary of Shiseido, according to a press release.
In recent years, fragrances have become one of the growth drivers for Shiseido’s business in Europe, which has a focus on the fragrance business.
The development, production, and sales of Max Mara‘s fragrances are expected to contribute to further global growth of Shiseido’s fragrance business, said the Tokyo-based company.
“Because it is a brand that represents Italian luxury and has a rich history, I am very excited about the collaboration with Max Mara, which is loved worldwide for its high quality, uncompromising brand value, and design sensibilities,” said Masahiko Uotani, chairman and CEO of Shiseido.
“I firmly believe that our partnership will contribute to our fragrance business, not only through further growth but by also creating synergies.”
The new collaboration also aims to expand Max Mara’s global offering, which saw it discontinue its fragrance collections several years ago.
“It is a great opportunity for Max Mara to begin such a visionary collaboration in the fragrance business. Shiseido is a company with a rich history and impressive track record to always show the ability and the courage to research, develop, and innovate,” said Luigi Maramotti, chairman of Max Mara Fashion Group.
“I have personally followed Shiseido with keen interest and I have long-admired their product strategies. I have connected with their management team on a number of occasions in the past, and have always been impressed by their drive and professionalism. We share a very similar corporate culture: one based on the centrality of human resources; deep respect for the company’s founding principles; and an honest and respectful relationship style.”
In its most recent trading update, Shiseido reported a 4 percent increase in net sales, reaching USD1.6 billion for the first quarter.
But the company experienced sluggish growth due to ongoing concerns surrounding its brand in the Chinese market, resulting in a decline in sales elsewhere.