Global beauty company Coty Inc. has received authorization from its board of directors to explore a potential listing on the Paris Stock Exchange (PAR), a move that would make the company dual listed on both the New York Stock Exchange (NYSE) and PAR.
 
The move is aimed at further enhancing Coty's presence in Europe and tapping into new investors in the market. The proposed structure aligns with Coty’s over 100-year heritage in France and its substantial business presence in Europe.

Strong Financial Footing

Under the leadership of Coty's CEO, Sue Y. Nabi, the company has made significant progress towards its strategic objectives, including 10 consecutive quarters of robust growth and results that meet or exceed expectations, the return of Coty's heritage consumer beauty brands to growth, highly successful fragrance launches for Burberry, Hugo Boss, Marc Jacobs, Gucci, and Chloé, dramatic acceleration in skincare, and building momentum in China through the success of Gucci Beauty, Burberry Beauty, and Lancaster.
 
Coty is now financially stronger, with projected Free Cash Flow of over $400 million in FY23, and is on track to achieve leverage towards 3x exiting CY23. Coty's market capitalization has quadrupled since Sue Y. Nabi's appointment in September 2020.

Extended Partnership with Sue Y. Nabi

The board has also announced the extension of its long-term partnership with Nabi.
 
The CEO's renewed compensation agreement is anchored on a long-term equity program that runs through 2030. The agreement includes a significant portion of performance-related shares and a performance-related bonus, further aligning all stakeholders' interests.
 
Coty Chairman Peter Harf commented, "Paris is the historic home of beauty, and the industry still holds a special attraction for investors there. The Board’s interest in exploring a potential listing on the Paris Stock Exchange has been made possible thanks to the progress Coty has made under Sue’s leadership.”