Procter & Gamble and Alexander McQueen Announce Fragrance License Agreement

The Procter & Gamble Company (NYSE: PG) and Alexander McQueen today announced that P&G Prestige has signed a contract to enter into a license agreement with Alexander McQueen to manufacture and sell designer fragrance products. Effective immediately, P&G will begin to develop and market fragrances under the Alexander McQueen brand name to expand their business into the fine fragrance category.

"Alexander McQueen has captured the imagination of the world in a unique and indelible way. The brand has become synonymous with modern British couture and will bring their incredibly passionate and emotional point of view to fragrance," said Joanne Crewes, President, P&G Prestige. "Alexander McQueen brings a unique perspective to the P&G Prestige portfolio. The contrasting elements of their design approach: fragility and strength, tradition and modernity, fluidity and severity is incredibly rich territory for fragrance development. This creative approach combined with our expertise in fragrance and brand building creates a wonderful opportunity for global growth and expansion. It is a tremendous privilege to partner with Alexander McQueen and to bring this incredible brand into beauty."

"Creating a fragrance feels like a natural progression as it enhances the world of Alexander McQueen. I'm very excited by this opportunity to collaborate with P&G Prestige, to work together to create a scent that captures the unique sensibility of the house," said Sarah Burton, Creative Director of Alexander McQueen.

Jonathan Akeroyd, President and CEO of Alexander McQueen said, "With the growing popularity and interest in Alexander McQueen, signing a fragrance license was a natural development for the house in expanding our product offering to reach a wider audience. P&G Prestige has showed such passion and belief in our brand, coupled with their expertise and knowledge in fragrances, I am confident that this will be an exciting and successful collaboration."

The signing of the Alexander McQueen fragrance license is consistent with P&G Prestige's strategy to grow the business with strong brands with global leadership potential. Alexander McQueen is complementary to P&G's existing designer fragrance portfolio and expands upon their strong luxury fragrance brands.

ABOUT P&G PRESTIGE:

P&G serves approximately 4.6 billion people around the world with its brands. The Company has one of the strongest portfolios of trusted, quality, leadership brands, including Pantene, Olay, Head & Shoulders, Wella, Gillette, Braun, Cover Girl, and a leading Prestige division that spans from point of market entry consumers to high end luxury beauty with global brands such as SK-II, Hugo Boss, Dolce&Gabbana, Gucci, Lacoste, James Bond 007 and Puma. The P&G community includes operations in approximately 75 countries worldwide. Please visit http://www.pg.com for the latest news and in-depth information about P&G and its brands.

ABOUT ALEXANDER MCQUEEN:

Alexander McQueen designs, manufactures and distributes two brands, Alexander McQueen and McQ which consists of women's and men's ready-to-wear and accessories. The Company operates in over 50 countries around the world through 41 directly operated and franchises worldwide, including flagship stores in New York, London, Milan, Los Angeles and Beijing as well as through 300 leading department and specialty stores including 35 shop-in-shops.

Alexander McQueen brand was founded in 1992 by Lee McQueen where he remained Creative Director until his passing in February 2010. Sarah Burton who joined the company in 1996 and has worked alongside Lee McQueen for more than 14 years was subsequently appointed Creative Director of the brand in May 2010.

Alexander McQueen is part of the Kering Group, a world leader in apparel and accessories which develops an ensemble of powerful Luxury and Sport & Lifestyle brands.