Coty Inc. will form a joint venture in Brazil with Frajo Internacional, a leading Brazilian cosmetics distributor. The new venture will distribute and market Coty mass/masstige brands in the retail channel.
"Brazil is one of the largest markets in the beauty industry," said Michele Scannavini, CEO of Coty Inc. "Frajo is the right partner, sharing our passion for beauty. Together, we look forward to introducing new Coty brands into this key market."
"Joining forces with Coty and benefiting from their expertise is an important step in strengthening Frajo's position as a leading cosmetic distributor in Brazil," said Frank Lund, Frajo's founder and CEO. "Coty's unique portfolio of brands will provide our customers with more choice."
This deal will expand Coty's go-to-market capabilities in the region. Currently, Coty has an existing commercial partnership in Brazil to distribute certain brands through a door-to-door distribution model. The company also has a distributor representing its Prestige products in the region.