Henkel and Lycra's owner Invista has developed a number of products that it claims, unlike traditional hairstyling brands, give hairstyles flexibility and hold.
Lycra will be included as an ingredient in Henkel's Taft and Poly Swing brands, with its brand logo visible on all packaging.
The range is currently being rolled out across Germany, and will be available across mainland Europe and Russia by March 2006.
A spokesman for Henkel said there was no planned date for the UK launch, but that the products will eventually be available in chemists, supermarkets and department stores across the country.
The company's current marketing budget is €6m (£4.1m) for the German-speaking market. Henkel is likely to back the UK launch with a major ad campaign.
Tobias Gubitz, Taft international brand manager, said: "We are excited about working with Invista and the world-renowned Lycra brand. We plan to take advantage of the Lycra brand's qualities, image and reputation for technological innovation to provide differentiation and relevance in hairstyling products. Our initial research indicates that this product line will be extremely well received by consumers."
This latest deal is not Lycra's first move outside the clothing market. The brand recently began an association with cosmetics brands Coty, Rimmel and Astor.
In February this year, Lycra sponsored a series of stickers in an edition of BBC Magazines' What to Wear title. The stickers could be used as page marketers to keep track of fashion items in the magazine.
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