Description
Coty Inc. is an American multinational beauty company. With its subsidiaries, it develops, manufactures, markets, and distributes fragrances, cosmetics, skin care, nail care, and both professional and retail hair care products. Coty owns around 77 brands as of 2018.
Coty is one of the world's largest beauty companies and the largest fragrance company, with $5.3 billion in revenue for the fiscal year 2022. Coty acquired 41 beauty brands from Procter & Gamble in 2016, becoming the global leader in fragrance, the second largest company for hair color and styling products, and the third largest company for color cosmetics. The company operates three divisions: Consumer Beauty, which focuses on body care, color cosmetics, fragrances, and hair coloring and styling products; Luxury, for luxury cosmetic, fragrance, and skin care products; and Professional Beauty, which services beauty salon and nail salon professionals. Coty's mission is to "celebrate and liberate the diversity of beauty".
The company has approximately 20,000 full-time employees in 46 countries, as of mid 2018. Coty's executive offices are located in London. The Consumer Beauty, Luxury and Professional Beauty divisions are headquartered in New York City, Paris and Geneva, respectively. Peter Harf is Coty's chairman. Pierre Laubies was Coty's CEO4 but on June 1, 2020 he was replaced by Harf. Pierre-André Terisse was appointed chief financial officer in January 2019. In July 2020, it was announced that Sue Youcef Nabi will become the company's new chief executive officer. Nabi who has previously served as L'Oréal's executive, is slated to take over the position in September the same year
JAB Holding Company is Coty's largest shareholder, with a 60 percent stake.
