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.
The New York-based parent of CoverGirl and Kylie Cosmetics made its debut on the Paris Stock Exchange today, offering 33 million common shares at €10.28 ($10.80).
Coty, which was founded in Paris in 1904, announced it was exploring a dual listing to strengthen its position in Europe and reach investors in the region in May. Proceeds from the offering will be used to lower debt — a long-term goal for Coty following its purchase of a number of Procter & Gamble beauty brands in 2016. In June, the company ended the 2023 financial year with $4 billion in debt, down from nearly $9 billion in 2020.
BNP Paribas, Crédit Agricole Corporate and Investment Bank, Citigroup and Santander are acting as joint coordinators and agents for the listing.
Learn more:
ADVERTISEMENT
Why Coty Sees Its Future in France
The New York-based beauty conglomerate is exploring a dual listing on the Paris Stock Exchange, citing access to new investors and a desire to shore up its French heritage. What a listing’s structure and benefits would look like remain to be seen.
Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.
Guerlain really wants to win this game.
The battle for exclusive international beauty launches is intensifying as Nykaa, Tira and more set their eyes on expansion.
As in-person retail continues to recover, store owners and marketers are working hard to press the main advantage analogue shopping has over digital: its appeal to all the senses.
What had once been a nimble, innovative company, Neutrogena became slow-moving and cautious. It retreated precisely when rivals went all in – and missed out on a big chunk of the market.