Content about Coty

NEW YORK — Coty has announced that it will form a joint venture in Brazil with Brazilian cosmetics distributor Frajo Internacional to distribute and market Coty mass/masstige brands in the retail channel.

"Brazil is one of the largest markets in the beauty industry," stated Michele Scannavini, CEO of Coty. "Frajo is the right partner, sharing our passion for beauty. Together, we look forward to introducing new Coty brands into this key market."

NEW YORK — Beauty company Coty has appointed Jean Mortier as president of its Prestige business, effective immediately.

Mortier has served as SVP, commercial for Coty since 2005. He succeeds Michele Scannavini, who was named CEO of Coty in July after serving as president of Coty Prestige for 10 years. In his new capacity, Mortier will lead the continued development and growth of the Coty Prestige portfolio, as well as seek new business ventures and collaborations. Based in Paris, he will also serve on Coty's executive committee.

NEW YORK — Coty has filed to raise as much as $700 million in an initial public offering. The filing with the Securities and Exchange Commission comes about a month after the beauty company dropped its bid for Avon because of Avon’s “delay and unwillingness to engage in discussions.”

In the filing, Coty told the SEC that it intends to list the Class A common stock on either the NASDAQ or the New York Stock Exchange under the symbol “COTY.” Coty did not reveal how many shares it plans to sell or their expected price.

NEW YORK — Just days after Coty upped its proposal for Avon, the former has decided to withdraw its offer, citing Avon’s “delay and unwillingness to engage in discussions.”

NEW YORK — Beauty company Coty and DKMS, the world's largest bone marrow donor center, jointly raised $3.2 million to support the fight against blood cancer during the recently held DKMS 6th Annual Gala: Linked Against Blood Cancer.

The DKMS 6th Annual Gala: Linked Against Blood Cancer was held in late April at Cipriani Wall Street to a sold-out audience. The gala, hosted by Katharina Harf, chief inspiration officer of DKMS Americas, once again broke records of previous years, raising $3.2 million to support the fight against blood cancer.

NEW YORK — Coty announced on Monday that it has submitted a nonbinding proposal to acquire Avon in a deal valued at about $10 billion; however, Avon has rejected the unsolicited bid.

Coty has submitted a nonbinding proposal to acquire Avon for $23.25 per share in cash. The proposal, valued at approximately $10 billion, represents a substantial premium of 27% over the three-month, volume-weighted average price for Avon shares, Coty stated.

NEW YORK — Coty has announced that Bart Becht, former Reckitt Benckiser CEO, has joined its board as nonexecutive chairman.

Becht stepped down as CEO of Reckitt Benckiser, a U.K.-based consumer goods company, in August 2011.

NEW YORK — Private equity firms Berkshire Partners and Rhone have made minority equity investments in Coty, with each of the investors being represented on the company's board of directors.

Terms of the transactions were not disclosed.

NEW YORK Coty has signed German supermodel and TV presenter Heidi Klum as the new face and artistic adviser for the global beauty brand Astor.

The first-of-its-kind creative collaboration allows the Astor brand to integrate Klum's fashion-forward point of view into the brand collections and capitalize on the style trends, as part of the company's mission to introduce the brand to a new audience and speak to consumers in a new way.