British luxury fashion brand, Burberry, has licensed its fragrances and cosmetics business to Coty, an expanding American cosmetics group. The company would hold the creative control over the brand including the faces of the commercial campaigns while letting Coty handle the global distribution.

According to Reuters, Burberry Chief Financial Officer Julie Brown said that the company had shifted the business by cutting secondary-channels sellings. Brown also admitted that the company can take advantage of Coty's expertise on working with luxury brands such as Gucci, Hugo Boss and Calvin Klein, and "their-first class distribution."

Coty is to pay £130 million pounds ($163 million) for the long-term global license and £50 million for other assets. Meanwhile, Burberry Beauty's revenue was £203 million in the 2015-2016 financial year with seven percent contribution to the company.