PARIS — Shiseido and Max Mara said they intend to enter into a long-term fragrance license, under which the Japanese beauty giant will develop, produce and distribute fragrances under the Italian luxury fashion house.
The license will be operated by Shiseido EMEA, which is a full subsidiary of Shiseido.
The company underlined how in recent years the global fragrance market has become one of the growth drivers for Shiseido’s European business, whose focus has been on that product segment.
Sales of prestige fragrance — the hottest category in the booming perfume segment — generated 5.23 billion euros in Europe last year, up 22.8 percent on-year, according to Statista.
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“The development, production and sales of Max Mara‘s fragrances are expected to contribute to further global growth of Shiseido’s fragrance business,” Shiseido said in a statement released Thursday. “Shiseido and Max Mara share their commitment to the highest standards of quality, innovation and customer satisfaction.”
“Because it is a brand that represents Italian luxury and has a rich history, I am very excited about the collaboration with Max Mara, which is loved worldwide for its high quality, uncompromising brand value, and design sensibilities,” said Masahiko Uotani, chairman and chief executive officer of Shiseido.
“Through discussions with chairman Luigi Maramotti, I’ve come to know that both companies share many values related to our corporate cultures, management philosophies, and talent development, and I’m honored that Shiseido has been able to connect with such a partner,” he continued. “I firmly believe that our partnership will contribute to our fragrance business, not only through further growth but by also creating synergies.”
“It is a great opportunity for Max Mara to begin such a visionary collaboration in the fragrance business,” said Maramotti. “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.
“I have personally followed Shiseido with keen interest, and I have long admired their product strategies,” he added. “I have connected with their management team on a number of occasions in the past, and have 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.
“I was very happy to find in chairman Mr. Masahiko Uotani someone with whom I share the deepest core values that are necessary to make such a venture successful,” said Maramotti.
“This upcoming agreement aligns with our strategy to strengthen our fragrance brand portfolio, driving mutual growth and new opportunities for both brands worldwide,” said Alberto Noé, president and CEO Shiseido EMEA. “The collaboration of our two companies, with their unique heritage and strengths, will open a new path to exceptional beauty innovations for global consumers.”
In 2006, Max Mara signed a worldwide licensing agreement with Selective Beauty to produce and distribute prestige fragrances for the brand. The license previously was managed through a venture between Procter & Gamble’s Cosmopolitan Cosmetics division and the Max Mara Group.
On Thursday, Max Mara said “the decision to enter now into a new long-term partnership agreement stems from the determination to entrust this project to one of the main global players in the fragrance and beauty sector.”
Max Mara was established in Reggio Emilia in 1951 by founder Achille Maramotti. The brand is designed by creative director Ian Griffiths and stages its seasonal fashion shows in Milan.
Max Mara has built its reputation over the years with a long list of coats that have made history, such as the 101801 design, which celebrated its 40th anniversary in 2021, or the robe-like Manuela coat launched in the ’90s and the Teddy Coat, introduced by Griffiths and which marked its 10th anniversary last year with the successful Fluffy Residences activations around the world. The brand’s camel coat has become a brand staple, appearing on display at London’s Victoria and Albert Museum, at the Fashion Museum of Paris and in Copenhagen’s Industry Museum.
Max Mara is distributed in 2,500 locations in more than 100 countries.
It continues to be privately owned by the Maramotti family and is part of the Max Mara Fashion Group, which counts nine brands, ranging from Sportmax to Max&Co and Marina Rinaldi. In the early ‘90s, the founder passed the torch to his three children: Luigi, Ignazio Maramotti and Maria Ludovica Maramotti.
Shiseido was the eighth-ranked largest beauty manufacturer worldwide in 2023, with sales of 973 billion yen, or $6.04 billion, according to WWD Beauty Inc’s most recent Beauty Top 100 listing. The company’s prestige fragrance division includes licensed fashion brands such as Issey Miyake, Narciso Rodriguez, Tory Burch and Zadig & Voltaire, as well as Serge Lutens.
In 2023, Shiseido’s overall fragrance sales rose 21 percent on a like-for-like basis. For this year in the EMEA region, the group estimates it will outperform the market, with growth of 13 percent on-year, driven by its fragrance activity and the Drunk Elephant brand.