Under the terms of the agreement, Shiseido will have the worldwide license to develop, market and distribute Tory Burch beauty products effective Jan. 1. The license has been held by the Estée Lauder Cos. since 2011.

Right now, Tory Burch’s beauty assortment consists of several fragrances, but under Shiseido, the plan is for Burch’s beauty purview to expand.Beyond growing the fragrance business, Shiseido plans to explore the possibility of launching other beauty categories.

Tory’s very much into beauty and digital, and there’s a lot of things we can do in terms of digital innovation and frankly, beyond fragrances. So yes, we can grow fragrances, but the brand certainly has potential to grow beyond fragrances, Rey said.

The Tory Burch beauty business will be run out of New York, managed by Shiseido Americas. Shiseido picked up the Dolce & Gabbana fragrance license in 2016, and also has licenses for Elie Saab, Narciso Rodriguez, Issey Miyake, Serge Lutens and Zadig & Voltaire fragrances.