02.01.11
With the future of fragrance somewhat shaky, the world’s No. 1 fragrance company is staking big ground and expanding in both color cosmetics and skin care. First, it added a spot of color to its cosmetics line, announcing an agreement with Kalina Group, a leading Russian cosmetic company, to acquire 100% of the shares of Dr. Scheller Cosmetics AG and its subsidiaries, which are currently held by Kalina.
Next came an agreement to acquire Philosophy from The Carlyle Group, a global alternative asset manager. The acquisition of Philosophy— known for its skin care and bath and body products, will allow Coty to further diversify and expand its Coty Prestige division, which will manage the Philosophy portfolio. Coty chief executive officer Bernd Beetz stated, “The acquisition will allow Coty to strengthen its presence in the skin care category, which is one of our key strategic objectives.”
Days later, the beauty giant announced its third acquisition in a month—that of OPI Products Inc., a leader in professional nail salon products. And the shopping spree had not yet come to an end. Early in December, Coty announced an agreement to acquire a majority stake in TJoy, a leading Chinese skin care company.
Next came an agreement to acquire Philosophy from The Carlyle Group, a global alternative asset manager. The acquisition of Philosophy— known for its skin care and bath and body products, will allow Coty to further diversify and expand its Coty Prestige division, which will manage the Philosophy portfolio. Coty chief executive officer Bernd Beetz stated, “The acquisition will allow Coty to strengthen its presence in the skin care category, which is one of our key strategic objectives.”
Days later, the beauty giant announced its third acquisition in a month—that of OPI Products Inc., a leader in professional nail salon products. And the shopping spree had not yet come to an end. Early in December, Coty announced an agreement to acquire a majority stake in TJoy, a leading Chinese skin care company.
