Established in 1904, Coty Inc. is one of the leading beauty and fragrance companies in the world. Along with its subsidiaries, the company manufactures and distributes a wide range of products including cosmetics, skincare, fragrances and more. The s
Established in 1904, Coty Inc. is one of the leading beauty and fragrance companies in the world. Along with its subsidiaries, the company manufactures and distributes a wide range of products including cosmetics, skincare, fragrances and more. The shares of Coty Inc. are traded on NYSE as “COTY”.
In 2016, COTY announced that they had completed the acquisition of 41 beauty brands from Procter and Gamble Company for $12.5 billion. Following the acquisition, COTY became the third-largest beauty company in the world, and Camillo Pane became the CEO of COTY. Founded in Paris, France, by François Coty, the company has over 20,000 full-time employees across over 40 different countries.
The three different divisions of COTY- Professional Beauty, Consumer Beauty and Luxury have separate headquarters in Geneva, New York City and Paris respectively. JAB Holding Company is a majority shareholder, with a 60% stake in the company.
After COTY’s inception, its first fragrance, La Rose Jacqueminot was launched in a packaged bottle which was designed by Baccarat. Next year, L’Origan was introduced in the market, thereby revolutionising the fragrance industry. It was the first perfume that was affordable and appealed to people of different financial backgrounds. In 1908, Coty successfully opened its first store in Paris. Now it sells its products in over 150 countries. COTY’s portfolio includes Burberry, Marc Jacobs Fragrances, CoverGirl and more.
On 18th November 2019, Kylie Jenner sold 51% stake of her beauty business which included Kylie Cosmetics and Kylie Skin to COTY for $600 million. In 2020, COTY entered into an agreement with KKR & Co. Inc. to sell two of its renowned brands- Wella and Clairol for $4.3 billion, including debt.
COTY made history when it won five awards at the US Fragrance Foundation Awards 2020. The awards included “Fragrance of the Year” award, Consumer Choice awards and more. Also, in 2020, Coty Inc. ranked 366th on the list of Fortune 500 companies.
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