Coty Aiming to Boost Its Cosmetics Portfolio
Coty is seeking acquisitions to expand its cosmetics business. The company, which markets Lancaster and Rimmel, is looking to increase annual sales to $5 billion by 2010 from $3.3 billion in 2007, according to reports. Some 82% of Coty’s sales last year were generated in the perfume division, while makeup accounted for 15% and skin care generated 3% of revenue. Coty is said to be one of several parties interested in buying Clarins.
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