Max Mara and Shiseido have entered a long-term fragrance partnership, according to a Thursday press release.
Under the agreement, the Japan-based beauty conglomerate will have an exclusive worldwide license to develop, produce, market and distribute scents for the Italy-based luxury fashion house. Shiseido EMEA, which is a consolidated subsidiary of Shiseido, will manage the license, and further terms of the partnership will be incorporated into a formal license agreement.
The company’s fragrance division is “one of the growth drivers for Shiseido’s business in Europe,” per the release, which stated that the Max Mara fragrance license is expected to further contribute to Shiseido’s expansion in this area.
Luigi Maramotti, chairman of Max Mara Fashion Group, said in the release that he and Masahiko Uotani, Shiseido’s chairman and CEO, shared “the deepest core values that are necessary to make such a venture successful.”
“It is a great opportunity for Max Mara to begin such a visionary collaboration in the fragrance business,” Maramotti said. “Shiseido is a company with a rich history and impressive track record to always show the ability and the courage to research, develop, and innovate.”
Maramotti added that he had been in touch with Shiseido’s management team in the past, and was “always been impressed by their drive and professionalism.”
“We share a very similar corporate culture: one based on the centrality of human resources; deep respect for the company’s founding principles; and an honest and respectful relationship style,” Maramotti said.
Uotani said in the release that he believed the partnership would contribute to Shiseido’s fragrance business “not only through further growth but by also creating synergies.”
Max Mara launched its first fragrance in 2004 as part of a license deal with Wella’s Cosmopolitan Cosmetics, which was acquired when Procter & Gamble bought the Germany beauty company. That fragrance was later discontinued, and Max Mara subsequently entered a license arrangement with Selective Beauty in 2006.
Meanwhile, Shiseido holds fragrance licenses with brands including Issey Miyake and Tory Burch. In its fiscal 2023 earnings, released in February, Shiseido reported a 21% year-over-year increase in fragrance sales and projected that fragrance would be one of the company’s key growth drivers in the EMEA region in 2024.
“This upcoming agreement aligns with our strategy to strengthen our fragrance brand portfolio driving mutual growth and new opportunities for both brands worldwide,” Alberto Noé, president and CEO of Shiseido EMEA, said in the release. “The collaboration of our two companies, with their unique heritage and strengths will open a new path to exceptional beauty innovations for global consumers.”