The agreement with Etro, a luxury Italian fashion house, to produce and distribute fragrance lines and home scent collections beyond 2040, positions Coty Inc. as a preferred partner for fashion houses looking to expand into beauty collections. This partnership, along with the recent agreement with Marni, underscores Coty's strategic focus on securing long-term, fashion-driven licenses, which is likely to resonate positively with investors and could lead to an optimistic outlook on Coty's stock in the short term.