Coty Inc. Announces Creation Of New Global Business Unit: Coty Beauty

2007-02-20 | 02:45

Coty Inc. announced today the creation of 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 Honigfort’s leadership, Coty Beauty will further strengthen the portfolio’s existing success while performing towards global dimension, and creating new opportunities in Asia. “Merging Coty Beauty into a unified division further positions Coty to achieve our goal of becoming a top five global Beauty company,” says Bernd Beetz, CEO, Coty Inc. “The strategic alignment will challenge the flourishing portfolio to embrace existing brands while simultaneously developing innovative lines that will fuel new levels of achievement for Coty Beauty.” “The new organization of Coty Beauty combines the force of Coty's strongest brands on the market with the most talented minds in the industry,” commented Honigfort, President, Coty Beauty. “Together as one division, Coty Beauty will continue to ignite growth, further globalize our portfolio and strengthen Coty's name in the beauty industry.” The creation of Coty Beauty brings promising opportunities to both the division and to the Company. In 2006, Coty followed a similar business model with the unveiling of Coty Prestige, a division specifically created to manage Coty’s premium brands. The Coty Beauty brand portfolio is widely distributed and includes adidas, Aspen, Astor, Baby Phat, Celine Dion, Chupa Chups, David and Victoria Beckham, Desperate Housewives, Esprit, Exclamation, Isabella Rossellini, Jovan, Kylie Minogue, mary-kateandashley, Miss Sixty, Miss Sporty, Nautica, Phat Farm, Pierre Cardin, Rimmel, Shania Twain, Stetson, and Vanilla Fields.