Coty completes merger with P&G Specialty Beauty Business
By Canadian Packaging staffGeneral beauty company acquisition Coty Consumer Beauty Coty Inc. Coty Luxury Coty Professional Beauty The Procter & Gamble Company
Coty now the third-largest beauty company in the world. Camillo Pane officially becomes CEO.
NEW YORK—Coty Inc. has announced it has completed the merger of The Procter & Gamble Company’s fine fragrance, color cosmetics, salon professional and hair color and certain styling businesses into Coty, making Coty the third-largest beauty company in the world, with approximately $9 billion in revenue.
As a combined company, Coty will also hold the No. 1 position in fragrances, and No. 2 and 3 positions in salon hair and color cosmetics, respectively.
Following the completion of the merger, Camillo Pane became the new chief executive officer of Coty.
Commenting, Pane says, “It is my great privilege to take over the reins of leadership at such a transformational moment. Today marks a new chapter in Coty’s rich heritage. With this merger, we have brought together a powerful portfolio of much loved beauty brands and some of the world’s most talented people in beauty and consumer goods. I believe this combination, together with our distinctive entrepreneurial culture, focused and lean operating structure, and efficient earnings model, will enable Coty to be a challenger in the beauty industry. We aim to relentlessly pursue superior products and solutions, build brands that inspire and enable consumers to celebrate and liberate their own individual beauty.”
Coty board of directors chairman Bart Becht says: “Coty is now better-positioned as we aim to become, over time, a global industry leader by being a clear challenger in beauty, delighting our consumers and creating long term shareholder value. I am confident that we now have a much improved team, structure and culture to make the vision of this merger a reality. I look forward to continuing to work with the new leadership team in my role as Chairman to drive Coty to in-market success and profitable growth.”
Consumer-Centric Organizational Structure, with Iconic Brands
Coty is organized into three divisions: Coty Consumer Beauty, Coty Luxury and Coty Professional Beauty, each focused on their respective categories and channels, with a lean structure that enables faster decision making, focused investments and better communication with customers and consumers.
- Coty Consumer Beauty is focused on color cosmetics, retail hair coloring and styling products, body care and mass fragrances, with the intent of providing consumers with innovative products primarily in the mass retail channel. Its iconic brand portfolio includes Adidas, Bourjois, Clairol, COVERGIRL, David Beckham, Katy Perry, Max Factor, Rimmel, Sally Hansen and Wella;
- Coty Luxury is focused on expanding Coty’s leadership position in prestige fragrances and emerging position in skincare, in the Luxury Beauty market across all regions and luxury channels, including travel retail. Its fragrances include such well-known brands as Marc Jacobs, Calvin Klein, Chloé, Gucci, Hugo Boss, Balenciaga, Bottega Veneta, Alexander McQueen, Davidoff and Miu Miu, amongst others, and skincare brands include Lancaster and philosophy;
- Coty Professional Beauty is focused on servicing salon owners and professionals in both hair and nail care, covering all key salon segments and salon client needs. The professional-focused brands include Clairol Professional, Nioxin, OPI, Sebastian Professional, System Professional and Wella Professionals.
Coty has over 20,000 colleagues globally and its products are sold in over 130 countries. Company information at www.coty.com.