Coty Sells Back Fragrance License To Lacoste After 6 Years

(RTTNews) - Coty Inc. (COTY), a beauty products firm, on Wednesday said that it has sold its Lacoste fragrance license back to the French company Lacoste S.A.

In the past six years, under Coty's supervision, Lacoste men's fragrances secured a premium plus positioning in the market, with its two pillars, L'Homme and Match Point.

Thierry Guibert, Lacoste president, said, "We are very appreciative of Coty's support throughout our partnership. With Coty, Lacoste has taken an important step in the development of its fragrance lines. It is now time for the brand to renew its approach to continue its growth, in a market where Lacoste still has great potential."