×
65 842
Fashion Jobs
MACY'S
Manager, Style Merchandise Execution
Permanent · Huntington Station
MICHAEL KORS
Sales Supervisor (Part Time), Lenox Square - Atlanta ga
Permanent · Atlanta
MICHAEL KORS
IT Security Analyst
Permanent · East Rutherford
MICHAEL KORS
Sales Supervisor, Leeds, al
Permanent · Birmingham-Hoover Metropolitan Area
MICHAEL KORS
Full Time Sales Supervisor- The Shops at Nanuet, ny
Permanent · Nanuet
MICHAEL KORS
pt-Sales Supervisor, Kings' Shops
Permanent · Waikoloa Village
TJX COMPANIES
Logistics Strategy And Reporting Manager
Permanent · Marlborough
KOHLS
Full-Time Loss Prevention Officer
Permanent · Citrus Heights
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Collinsville
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Carmel
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · North Smithfield
KOHLS
Manager, Kohl's Card Marketing - Remote
Permanent · Menomonee Falls
ESTEE LAUDER
Manager, Internal Audit, Data Analytics
Permanent · New York
ESTEE LAUDER
Director, Supply Chain Finance – Controls & Compliance
Permanent · Melville
ESTEE LAUDER
Keyholder - Cosmetic Company Store - 20 Hrs - Premium Outlets at Kenosha - Kenosha,wi
Permanent · Kenosha
ESTEE LAUDER
Regulatory Compliance Project Manager
Permanent · New York
ESTEE LAUDER
Manager, Int'l China Marketing & Business Development - le Labo Fragrances
Permanent · New York
ESTEE LAUDER
Manager, Technical Program Lead (Makeup)
Permanent · Melville
ESTEE LAUDER
Director, IT Technology Solutions - Human Resources (HR)
Permanent · New York
ESTEE LAUDER
Manager Ecommerce - Acquisition Marketing, Clinique
Permanent · New York
ESTEE LAUDER
Project Manager, Global Supply Chain Fast-to-Action
Permanent · New York
ESTEE LAUDER
Area Manager - dc Shipping
Permanent · Bristol
Ads
Published
Oct 3, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Coty completes merger with P&G beauty business

Published
Oct 3, 2016

Coty has completed the merger with P&G’s fine fragrance, color cosmetics, salon professional and hair color and select styling businesses in a deal that makes the American manufacturer the third-largest beauty company in the world with approximately $9 billion in revenue.


Coty


The combined business is now also the largest fragrance company in the world and the second-largest in salon hair, as well as third-largest in colour cosmetics.

New CEO of Coty, Camillo Pane commented: “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.”

Bart Becht, Chairman of Coty’s Board of Directors, added, “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.”

The deal included well-known makeup brands such as Covergirl, Max Factor, Sally Hansen and Wella, as well as P&G fragrance licenses such as Hugo Boss, Gucci, Lacoste, Bruno Banani, Escada, Mexx, James Bond 007, Gabriela Sabatini, Stella McCartney and Alexander McQueen.

Following the transaction, David S. Taylor, P&G Chairman, President and Chief Executive Officer, commented: “This effectively completes the major work we undertook two years ago to streamline and strengthen our product portfolio. We are now focused on 10 product categories and about 65 brands where P&G has leading market positions and where product technologies deliver performance differences that matter most to consumers.”

Coty will now be organized into three divisions: Coty Consumer Beauty, Coty Luxury and Coty Professional Beauty, each focused on their respective categories and channels.

Coty expects to achieve, through the combination of the companies, cost savings of $750 million, or 16 percent of acquired revenues. The merger synergies are expected to enhance Coty’s already strong margins, cash flow generation and earnings power. 

The New York-based business expects the merger to add 500 to 600 basis points to its adjusted operating profit margins over a four-year period, resulting in margins of approximately 19.6%.

As previously announced, Coty will assume about $1.9 billion of debt of the P&G Specialty Beauty Business. The company anticipates that its first half revenue will be below prior year results as it continues to rationalize its wholesale distribution.

Copyright © 2022 FashionNetwork.com All rights reserved.