Benetton Group and Puig have announced an exclusive, long-term global license agreement to create, develop and distribute new lines of United Colors of Benetton fragrances, which will embody the core values of the brand.

The new licensing agreement will run from January 1, 2014 and will debut on the market with a first fragrance, a feminine perfume developed for the “masstige” market. It will be distributed through major department stores and specialist beauty retailers worldwide. The new fragrance will also be sold internationally at key United Colors of Benetton flagship stores.

Puig is a third-generation family-owned fashion and fragrance business based in Barcelona. The company registered revenues of €1.48 billion in 2012. Puig success stories include a combination of brands such as Carolina Herrera, Nina Ricci, Paco Rabanne and Jean Paul Gaultier, licenses such as Prada, Valentino and Comme des Garçons, and celebrity fragrances. Puig products are sold in more than 130 countries.