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
MakeUp in newYork hosted more than 3800 visitors, with a growth of 12% of international guests.

MakeUp in New York moves to Javits Center to continue growing

The latest edition of MakeUp in NewYork was a huge success, announced the organisers. Held at the Center415 on 5th Avenue, in Manhattan, on September 11&12, 2019, the two-day B2B event dedicated to the makeup and skincare supply chain welcomed more than 3800 visitors, with a growth of 12% of international guests. Brazil, Canada, (...)

read more
job opportunities
Experts’ views
Victoria's Secret or the failure of a conservative positioning?

Laurence Bacilieri
Victoria’s Secret or the failure of a conservative positioning?

When the Victoria’s Secret show was cancelled it didn’t come as a surprise. In May, it was reported by The New York Times that the show would no longer be broadcast on network television. “We must evolve and change to grow. With that in mind, we have decided to re-think the traditional Victoria’s Secret Fashion Show". From 2001 to 2018, (...)

read more
Webinars
E-shop - latest publications
Regulations on the registration of cosmetic products in China (part1)
135.00 € excl. tax
United Kingdom: Premium Beauty Market Report
1700.00 € excl. tax
Safety of perfumes and cosmetics. Belarus, Kazakhstan and Russia
200.00 € excl. tax
Go to top ↑

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