Follow us twitter facebook
Edition: Global
Click here to subscribe toour free weekly newsletter click here
Industry buzz

Coty would consider IPO after aborted Avon bid

Cosmetics and perfumes maker Coty eventually withdrew its latest bid to buy out competitor Avon Products. “We received encouragement from many of your shareholders, research analysts and others in the financial community. Despite this support, your total lack of engagement with us leads us to believe that you remain reluctant to explore a friendly, negotiated combination on a reasonable timetable. Two months is enough,” wrote Coty chairman Bart Becht, in a letter to Avon’s board of directors. “It is time for Coty Inc. to move on and pursue other opportunities,” he added.

According to various media sources, following this withdrawal, Coty has selected Bank of America Merrill Lynch and JPMorgan Chase & Co to lead an IPO this autumn. The IPO would value Coty at more than US$7 billion, thus making it almost as valuable as Avon, which has a market value of about US$8 billion, but has nearly three times the revenue.

Headquartered in New York, Coty is majority owned by German conglomerate Joh. A. Benckiser GmbH.

Portfolio

© 2012 - Premium Beauty News - www.premiumbeautynews.com
latest news
Focus
spip-vignette

A new trade show dedicated to clean beauty in London

Dubbed Clean Beauty in London the new trade show intends to gather experts, scientists, suppliers, brands, influencers and journalists under one roof “to build the future of clean beauty.” Taking place on October 12 & 13, 2020 at The Brewery, located at 52 Chiswell Street at the heart of London, the event aims to encourage (...)

read more
job opportunities
Experts’ views
India emerges as the next beauty giant

Asia Cosme Lab
India emerges as the next beauty giant

Thanks to a growing young population (first youth population in the world) and the emergence of a vast middle class, as well as a higher Internet connection from both urban and rural areas, India is set to emerge as the next beauty giant after China. Asia Cosme Lab took a deep dive in the fascinating Indian market, where both (...)

read more

Features

We use cookies to give you a better browsing experience. By continuing your visit to this site, you accept the use of cookies. Read more and set cookies
close