Once the deal is done, Coty will become the No. 1 perfume maker in the world ahead of L'Oreal and they No. 3 makeup manufacturer behind L'Oréal and Estée Lauder. It would run the perfume licenses of Gucci and Hugo Boss as well as make-up brands such as Max Factor, more than doubling its size with combined sales of more than $10 billion.
The Commission said that consumers would continue to have a large array of choices in fragrances such as Avon, L'Oréal and LVMH and in color cosmetics, such as L'Oréal and Cosnova.
"The Commission concluded that strong independent players would remain active in all the concerned markets," the Commission, which rules on competition matters in the European Union, said in a statement.