Breaking News

Coty Forms Subsidiary To Manage African Operations

December 3, 2013

SOUTH AFRICA: Coty Inc. has formed a new, wholly owned subsidiary in South Africa in order to direct, manage and fully operate all of its South African business as well as its business in 13 other African countries. The enhanced operating structure marks the latest important strategic move as it continues making strides in increasing its presence in key emerging markets, the company said early last month.

Through a strategic agreement with long-term partner Indigo Brands Proprietary Limited, a wholly owned subsidiary of AVI Ltd., Coty has secured Indigo and other subsidiaries of AVI as the exclusive manufacturer, distributor and marketer of Coty’s value brands. For the past 13 years, Indigo has served as the exclusive licensee of Coty’s mass brands in South Africa.

Coty said the accord will allow it to closely manage its business, give it more financial freedom to promote mass brands sales growth and enable it to increase its footprint in the region.

“This enhanced operating agreement will allow us to drive growth in Africa,” said Michele Scannavini, CEO, Coty Inc. “We have been very happy with our partnership with Indigo and look forward to working with AVI. Our 13 year history of successful collaboration is a positive sign of even better developments yet to come.”

“We are confident that the revised commercial terms between the parties will result in robust growth and innovation for the Coty brand portfolio both in South Africa and the broader African region,” added AVI’s CEO, Simon Crutchley.

AVI is a leading South African branded consumer products company operating in the food, fashion and personal care categories via more than 50 brands. Its turnover was approximately $884 million (9.2 billion rand) for the fiscal year ended June 30, 2013. 
blog comments powered by Disqus
  • Long Term Sustainability In the Nonwovens Market

    Long Term Sustainability In the Nonwovens Market

    August 23, 2016
    Learn more at Cleaning Products USA, Nov. 9-11, 2016

  • Fro Yo!

    Fro Yo!

    Tom Branna, Editorial Director||August 22, 2016
    Project Beauty dishes out Hairgurt, a line of vitamin-rich hair shampoos and conditioning masques.

  • TLC for Those Who Need It Most

    TLC for Those Who Need It Most

    Christine Esposito, Associate Editor||August 22, 2016
    New curriculum debuting at Bellus Academy helps estheticians treat a population that needs TLC.