NEW YORK — Elizabeth Arden Inc. plans to acquire the global license and certain assets for the Christina Aguilera fragrance business from Procter & Gamble International.
Financial terms of the agreement weren’t disclosed. The transaction is expected to close in the first quarter of fiscal 2017, pending regulatory approvals.
“We are tremendously excited with our agreement to acquire the Christina Aguilera fragrance license,” stated George Cleary, president of global fragrances at Elizabeth Arden. “This stellar brand is one with a global footprint and a significant international presence in Europe. This acquisition is consistent with our strategy to acquire brands to grow our fragrance business on a global basis, and we look forward to working with Christina to advance the success of this luxury, longstanding fragrance brand.”
Christina Aguilera Perfumes was one of the two fragrance brands, the other being Dolce & Gabbana, that earlier this year dropped out of P&G’s beauty brand merger with Coty Inc. Under the $12.5 billion deal, P&G agreed to merge 43 of its beauty brands with Coty, including P&G’s global salon professional hair care and color, retail hair color, cosmetics, fine fragrances and select hair styling businesses.
Christina Aguilera introduced her first fragrance in 2007 and now has seven brands. In addition to being the No. 1 celebrity fragrance brand in Europe, it stands as the most awarded celebrity fragrance brand in this region.
“I really enjoy developing my fragrances, and I am excited to continue the process with Elizabeth Arden,” Aguilera said in a statement. “Their commitment to creating fragrances is important to me and I know they will do a great job helping me deliver top quality product to my fans.”
The move expands Elizabeth Arden’s roster of celebrity fragrance brands, which includes Taylor Swift, Nicki Minaj, Mariah Carey and Justin Bieber. Also part of the company’s perfume lineup are the heritage fragrance brands of Britney Spears, White Diamonds Elizabeth Taylor and Jennifer Aniston.