Coty Inc. created 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 Mr. Honigfort’s leadership, Coty Beauty will further strengthen the portfolio’s existing success while creating new opportunities in Asia, according to the company.
The creation of Coty Beauty brings promising opportunities to both the division and to the company, according to Coty. In 2006, Coty followed a similar business model with the unveiling of Coty Prestige, a division specifically created to manage Coty’s premium brands. More info: www.coty.com.