Coty Inc. (NYSE: COTY) announced today that it has completed the acquisition of ghd, a global premium brand in high-end hair styling appliances, further strengthening Coty’s worldwide leading position in professional hair care. The acquisition is expected to be immediately accretive to Coty’s earnings.
Camillo Pane, Coty Chief Executive Officer, said, “We are excited to welcome the ghd company to Coty. The addition of ghd, with their state-of-the-art hair appliances further strengthens our Coty Professional Beauty division, providing us with a strong foothold in an adjacent, complementary category. We look forward to continuing to grow and nurture ghd internationally as Coty strives to become a global industry leader by being a clear challenger in beauty.”
ghd will become part of the Coty Professional Beauty division, where it will be managed as a standalone business led by its current CEO Anthony Davey and management team. Anthony Davey will report to Sylvie Moreau, President of Coty Professional Beauty. The company has international operations in Europe, Australia, South Africa, and the USA. ghd products are sold through salons, in premium retail and through e-commerce. It is the number one stylist-recommended and number one consumer-preferred styler brand in all of its key markets.
About Coty Inc.
Coty is one of the world’s largest beauty companies with approximately $9 billion in revenue, with a purpose to celebrate and liberate the diversity of consumers’ beauty. Its strong entrepreneurial heritage has created an iconic portfolio of leading beauty brands. Coty is the global leader in fragrance, a strong number two in professional salon hair color & styling, and number three in color cosmetics. Coty operates three divisions – Coty Consumer Beauty, which is focused on color cosmetics, retail hair coloring and styling products, body care and mass fragrances sold primarily in the mass retail channels with brands such as COVERGIRL, Max Factor and Rimmel; Coty Luxury, which is focused on prestige fragrances and skincare with brands such as Calvin Klein, Marc Jacobs, Hugo Boss, Gucci and philosophy; and Coty Professional Beauty, which is focused on servicing salon owners and professionals in both hair and nail, with brands such as Wella Professionals, Sebastian Professional and OPI. Coty has approximately 20,000 colleagues globally and its products are sold in over 130 countries. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment. For additional information about Coty Inc., please visit www.coty.com
Good Hair Day, better known as ghd, is a global premium, electrical styling brand that is in the business of transforming the lives of women everywhere so that they can look and feel beautiful every day. Game-changing innovation, cutting-edge technology, superior performance and award-winning design are all hallmarks of the brand. Founded in 2001 by three British hairdressers, ghd straighteners were originally developed exclusively for professional stylists and quickly developed a cult following among professionals, consumers and celebrities alike. Based in the UK, the company has international operations in Europe, Australia, South Africa, and the USA. Today, ghd is a multi-category, multi-channel brand with a range of stylers, hairdryers and curling tongs, and is the number one stylist-recommended and number one consumer-preferred brand in all of its key markets. For more information, please visit www.ghdhair.com