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Burberry signs beauty licence with Coty

Burberry has agreed a licensing agreement with US firm Coty to grow and develop its beauty business.

Coty will take over the distribution of Burberry’s beauty range from October 2017, while Burberry will continue to lead on all creative elements.

Christopher Bailey, chief creative and chief executive of Burberry, said: “Working with a global partner of their scale and expertise will help drive the next phase of Burberry beauty’s development and position this business for future growth.

“Further, the combination of the upfront payments and ongoing royalties is financially attractive and is expected to provide an accretive impact to our earnings from FY 2018/19.”

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