2007-02-19 15:06:35 -
NEW YORK, February 19 /PRNewswire/ --
- New Division Combines Portfolio Powerhouses of Americas, Europe and
Asia
Coty Inc., the world's largest fragrance company, announced today the
creation of a new global business unit, Coty Beauty, which will combine the
mass businesses of the Americas, Europe and Asia.
Leveraging the combined power of the Coty Beauty portfolio, the newly
created division will be led by Hans Joachim Honigfort, former President of
Coty Beauty Europe. Under Honigfort's leadership, Coty Beauty will further
strengthen
the portfolio's existing success while performing towards global
dimension, and creating new opportunities in Asia.
"Merging Coty Beauty into a unified division further positions Coty to
achieve our goal of becoming a top five global Beauty company," says Bernd
Beetz, CEO, Coty Inc. "The strategic alignment will challenge the flourishing
portfolio to embrace existing brands while simultaneously developing
innovative lines that will fuel new levels of achievement for Coty Beauty."
"The new organization of Coty Beauty combines the force of Coty's
strongest brands on the market with the most talented minds in the industry,"
commented Honigfort, President, Coty Beauty. "Together as one division, Coty
Beauty will continue to ignite growth, further globalize our portfolio and
strengthen Coty's name in the beauty industry."
The creation of Coty Beauty brings promising opportunities to both the
division and to the Company. In 2006, Coty followed a similar business model
with the unveiling of Coty Prestige, a division specifically created to
manage Coty's premium brands.
The Coty Beauty brand portfolio is widely distributed and includes
adidas, Aspen, Astor, Baby Phat, Celine Dion, Chupa Chups, David and Victoria
Beckham, Desperate Housewives, Esprit, Exclamation, Isabella Rossellini,
Jovan, Kylie Minogue, mary-kateandashley, Miss Sixty, Miss Sporty, Nautica,
Phat Farm, Pierre Cardin, Rimmel, Shania Twain, Stetson, and Vanilla Fields.
About Coty Inc.
Coty was created in Paris in 1904 by Francois Coty who is credited with
founding the modern fragrance industry.
Today, Coty Inc. is the world's largest fragrance company and a
recognized leader in global beauty with annual net sales of US$2.9 billion.
Driven by an entrepreneurial spirit, passion, innovation and creativity, Coty
Inc. has developed an unrivaled portfolio of notable brands and delivers its
innovative products to consumers in 91 markets worldwide.
The Coty Prestige brand portfolio is distributed in prestige and
ultra-prestige stores and includes Calvin Klein, Cerruti, Chloe, Chopard,
Davidoff, Jennifer Lopez, Jette Joop, Jil Sander, JOOP!, Kenneth Cole,
Lancaster, Marc Jacobs, Nikos, Sarah Jessica Parker, Vera Wang and Vivienne
Westwood.
The Coty Beauty brand portfolio is more widely distributed and includes
adidas, Aspen, Astor, Baby Phat, Celine Dion, Chupa Chups, David and Victoria
Beckham, Desperate Housewives, Esprit, Exclamation, Isabella Rossellini,
Jovan, Kylie Minogue, mary-kateandashley, Miss Sixty, Miss Sporty, Nautica,
Phat Farm, Pierre Cardin(1), Rimmel, Shania Twain, Stetson, and Vanilla
Fields.
For additional information about Coty Inc., please visit
www.coty.com.
(1) European license only.
Web site: www.coty.com
Source: Coty Inc.
