Procter & Gamble, Stella McCartney sign fragrance license agreement

Under the license agreement, which will be effective from 13 September 2013, P&G will manufacture and sell designer fragrance products under the Stella McCartney brand name.

Procter & Gamble Prestige president Joanne Crewes said Stella McCartney has a unique and responsible approach towards luxury and design.

"Stella McCartney enhances the P&G Prestige portfolio, and her passionate consumer base will enable us to reach more women around the world," Crewes added.

"Her unique point-of-view combined with our expertise in the fine fragrance category, our core strengths in brand building and innovation, and our global retail partnerships, create a perfect partnership for global growth and expansion. We are thrilled!"

The Stella McCartney fragrance license agreement is said to be in line with P&G Prestige’s strategy to grow the business with strong brands with global leadership potential.

The deal is said to complement P&G’s existing designer fragrance portfolio and expands its strong luxury fragrance brands.

UK fashion designer Stella McCartney said, "It is just an incredibly exciting time to look at the world of Stella McCartney beauty and to have such an opportunity with such a great partner in P&G Prestige that understands my beliefs."