Coty has completed the acquisition of Procter & Gamble’s speciality beauty business, making it the third-largest beauty company in the world, with estimated revenues of $9bn.
The deal included P&G’s fine fragrance, colour cosmetics, salon professional, and hair colour and certain styling businesses. With the move, Coty is now also the world’s leading fragrance company, and the global number two and three in salon hair and colour cosmetics, respectively.
Camillo Pane became the new CEO of Coty, with Bart Becht remaining Chairman of Coty’s Board of Directors.
Coty will assume approximately $1.9bn of debt of the P&G Specialty Beauty Business.
- Where at: A significant and fundamental change in fine fragrance, colour cosmetics, salon professional, and hair colour categories in the radically different business models of salon and consumer sectors, each having major scale impacts in their respective markets
- Where headed: Essentially a move from a P&G to a Coty approach should say it all…
- Effect on you: A radical change in the landscape made up of the four categories, everywhere
- Action: Time to go back to basics and reassess relative competitive appeal to consumers, retailers and professional haircare providers vs. available competition, for starters
- …and then drill down to brand level to really appreciate the seismic change underway…