One of the biggest developments that took place during the week that TFWA World Exhibition took place in Cannes was the official completion of the merger of The Procter & Gamble Company’s fine fragrance, color cosmetics, salon professional and hair color and certain styling businesses (“P&G Specialty Beauty Business”) into Coty, Inc.
Coty is now the third-largest beauty company in the world, with approximately $9 billion in revenue. As a combined company, Coty will also hold the number one position in fragrances, and number two and three positions in salon hair and color cosmetics, respectively.
As previously announced, following the completion of the merger, Camillo Pane became the new Chief Executive Officer of Coty.
Coty is now organized into three divisions: Coty Consumer Beauty, Coty Luxury and Coty Professional Beauty, each focused on its respective categories and channels, with a lean structure that enables faster decision making, focused investments and better communication with customers and consumers.
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.
