LONDON/PARIS, April 16 (Reuters) - Coty on Thursday said it is not in talks to sell any of its prestige brand licenses, denying a report by luxury news site Miss Tweed that the U.S. beauty company was
Coty and Interparfums deny report of talks regarding Boss, Burberry perfume licenses
Denials of Sale Talks and Strategic Focus
LONDON/PARIS, April 16 (Reuters) - Coty <COTY.N> on Thursday said it is not in talks to sell any of its prestige brand licenses, denying a report by luxury news site Miss Tweed that the U.S. beauty company was discussing selling its Hugo Boss and Burberry licenses to Paris-based Interparfums.
Coty's Official Statement
"Any suggestion that Coty is in talks to transfer or sell prestige brand licences is categorically false and without merit," a Coty spokesperson said in a statement to Reuters.
Interparfums' Response
Interparfums CEO Philippe Benacin also denied that any talks were taking place.
"There are currently no discussions whatsoever underway," he said.
Coty's Strategic Direction
Focus on Core Brands
U.S.-listed Coty, which withdrew its full-year guidance in February and warned on its third-quarter profits, had said it would focus on core brands under interim CEO Markus Strobel who has been tasked with turning around the company's performance.
Prestige Brands and Strategic Review
Hugo Boss and Burberry Fragrance Lines
Those include the Hugo Boss and Burberry fragrance lines which are among Coty's "prestige" brands and not part of a strategic review underway for its makeup brands.
(Reporting by Helen Reid in London and Dominique Patton in Paris)
