.:[|09/10/04|]:.
Coty Inc., one of the world's leading beauty companies, announced today the signing of a US
licensing agreement covering the Baby Phat by Kimora Lee Simmons and Phat Farm trademarks.
Under the terms of the license, Coty will initially develop and market fragrances under the
Baby Phat by Kimora Lee Simmons brand.
This partnership is the first time that the Baby Phat brand has entered the fragrance and
toiletries sector. The brand is well known for success within the 'urban market.' This market
sector has become established in the music, publishing, lifestyle and fashion sectors. The
sector sprang from hip-hop culture and today is worth around $10 billion, according to industry
estimates. Baby Phat is one of the most successful brands in a market that has successfully
combined street culture with style and celebrity to appeal to a wide-based youth audience.
These values will be echoed in the products developed under its banner in a range that will
initially be sold in the US.
"Baby Phat is very much a brand of the 21st century," said Bernd Beetz, Chief Executive Officer,
Coty Inc. "Russell Simmons and Kimora Lee have built a lifestyle and image based on their music
and fashion roots that resonates with a wide section of the young US audience. Kimora's
creative flair and clarity of vision for the Baby Phat brand, alongside Coty's expertise in
developing products that are close to consumers' lives and desires will make for an exciting
and dynamic partnership. This is an important new addition to our portfolio and firmly stamps
our presence in the younger market. The Phat Farm and Baby Phat by Kimora Lee Simmons license,
is another example of the way that we are able to succeed and build great brands by moving
faster, thinking more freely and taking our ideas further."
"The expertise and flair of Coty Inc. has been proven time and time again. Creating a Baby Phat
by Kimora Lee Simmons fragrance with their team was a natural choice for me. I look forward to
working with them and bringing the essence of the chic, urban woman to life," said Kimora Lee
Simmons.
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