The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Coty Inc. said on Monday chief executive Camillo Pane has resigned and will be replaced by Pierre Laubies, the former chief executive of Dutch coffee firm Jacobs Douwe Egberts.
The Miu Miu perfume maker also said chairman Bart Becht would be replaced by company director Peter Harf immediately, without giving details.
Laubies was until recently the chief executive of Jacobs Douwe Egberts, majority owned by Coty's largest shareholder JAB Holding Company — the investment vehicle of the billionaire Reimann family.
Pane's departure comes just days after Coty reported dismal results on Wednesday that sent its shares down over 20 percent.
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Pane became chief executive in October 2016, following the closing of Coty's acquisition of Procter & Gamble's beauty business.
By Jaslein Mahil, Nivedita Balu; editor: Saumyadeb Chakrabarty
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.