Estée Lauder has announced that its Aramis and Designer Fragrances Division will assume the exclusive worldwide license for the fragrance and grooming business of the Ermenegildo Zegna Group, a one-hundred year old, Milan-based men’s luxury clothing and accessory business. The license is effective July 1, 2011. Other terms were not disclosed.

The new license provides the Estée Lauder Companies exclusive global rights to market fragrances under the Ermenegildo Zegna Group’s brands and develop new product lines in the grooming segment.

“The Ermenegildo Zegna Group and the Estée Lauder Companies share a tradition of serving prestige consumers and retailers over generations of family leadership,” says William P. Lauder, executive chairman of the Estée Lauder Companies. “We look forward to working with the Zegnas to create products reflective of our companies’ mutual dedication to quality, continuous innovation and luxury.”

“We are delighted to be working with the Estée Lauder Companies, a world leader in fragrance, cosmetics and skin care, to expand our business,” says Gildo Zegna, Chief Executive Officer of the Ermenegildo Zegna Group. “They share our organization’s commitment to the highest standards of quality, rooted in strong family values, and a focus on the global luxury market. They are the ideal partner to help us expand the reach and breadth of the Zegna fragrance business and to introduce new product offerings under Zegna’s labels.”

“By applying our skills in execution, product development and marketing, we are confident that we can develop the Zegna fragrance business and add a successful men’s grooming business in the future,” adds Fabrizio Freda, president and CEOof the Estée Lauder Companies. “In addition to expanding our presence in priority luxury markets, particularly in Asia with a focus on high potential growth in China and travel retail, this agreement provides us another exciting and distinctive entry in the men’s business across fragrance and skin care.”