Coty CEO says Gucci licence deal not under discussion for next five years

Coty said on Thursday there will be no discussion of a Gucci licence deal in the next five years.

“There will be no discussion on the renewal of any of our licences before at least 5 years,” Coty CEO Sue Naby told journalists in response to a question about whether Kering could take back a licence for beauty products for its fashion label Gucci.

Kering last week announced a deal to buy high end fragrance label Creed, marking its first major step in building an in-house cosmetics business.

Coty, which is exploring a secondary listing in Paris, is holding an investor day in the French capital Thursday.