Coty's Marc Jacobs licensing extended to beauty products; stock gains after hours

Shares of Coty Inc. (COTY) rose 1% in the aftermarket Monday after the beauty company said its licensing deal with Marc Jacobs will expand to include beauty products in addition to Coty's long-held license for Marc Jacobs fragrances. The agreement also was extended for 15 years. "The expansion and extension of our longstanding agreement with the house of Marc Jacobs, now in its 20th year, is a testament to the enduring success of our partnership and the brand's limitless potential," Coty's Chief Executive Sue Nabi said in a statement. "This agreement reinforces Coty's position as a go-to partner for global fashion houses and brands that share our ambition of creating leading beauty portfolios." Coty stock ended the regular trading day down 2.8%.

-Claudia Assis

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08-21-23 1649ET

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