Coty expands its skincare portfolio with sustainably minded and genderless high-performance brand Orveda in a licensing deal.
WHO: Founded by leading beauty industry entrepreneurs Sue Y. Nabi and Nicolas Vu in 2014, French luxury skincare brand Orveda combines the best of nature with cutting-edge biotechnology and dermatological benefits. Orveda offers formulas concentrated in prebiotics, plus active ingredients painstakingly selected to work with, not against, the skin's own biology to activate its 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. The range consists of 22 healthy skin glow activators and one home scent, and can be found in retail doors and e-commerce platforms across 15 countries.
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 products in approximately 130 countries and territories.
WHY: 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.
IN THEIR OWN WORDS: "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.”
“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.”
- Coty expands its skincare portfolio with Orveda in a licensing deal.
- 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, Coty believes Nabi's deep understanding of the Orveda brand coupled with her vision for the business’ long-term skincare strategy, makes Coty the ideal partner to accelerate Orveda's growth.
- 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.
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