The Benetton Group has struck a deal with the Spanish fashion and fragrance firm Puig to develop and distribute new lines of United Colours of Benetton fragrances.
Running from January next year, the partnership marks the start of a long-term global agreement, bringing together the two family owned fashion and fragrance firms.
The first to hit market will be a feminine fragrance developed for the masstige market and will be distributed through major department stores and specialist beauty retailers worldwide.
The new fragrance will also be sold internationally at key United Colours of Benetton flagship stores.
Alessandro Benetton (pictured), chairman of Benetton Group, said: "United Colours of Benetton is one of the most widely recognised brands in the world and thus I have long believed that the fragrance market represented a bigger opportunity for our organisation.
"For this reason, I am particularly pleased to announce that we have now identified the right partner to fully leverage this significant opportunity."
Puig’s chairman and CEO, Marc Puig added: "At Puig, one of our strengths is our ability to translate the image of a brand into the fragrance category. We look forward to working with the Benetton team in this new endeavour."