In an exclusive statement to EsteticaNework, Coty Professional Beauty Executives shared additional perspective on the company’s latest strategic review process and its decision to sell its salon professional portfolio.
After 3 years in which Coty has made outstanding progress in stabilising and consolidating its core professional beauty business, a decision has been reached to focus more on its fragrance and cosmetics businesses.
In a strategic review announced on Monday, it was confirmed that the objective is for the acquisition to go through by the Summer of 2020 with an expectation that more clarity will be given by the Spring. Coty’s professional portfolio includes leading industry brands such as Wella Professionals, O.P.I., ghd, Nioxin, System Professional, Sebastian, Kadus, Londa, Clairol Professional and Sassoon. It is not certain yet what the final list includes as some brands from Coty’s consumer retail portfolio are also in scope.
While Coty is not currently in a position to comment on the names of any interested parties, there is no doubt that the assets up for acquisition will be very attractive to a number of potential buyers and Coty’s options remain open both in terms of strategic and financial buyers. The decision to sell its professional beauty portfolio coincides with an outstanding landmark for the company, with 2020 marking the 140th anniversary of global #1 salon color brand, Wella Professionals: “It’s only with the enduring passion and trust of so many talented artists, ambassadors, and business partners that Wella has managed to thrive for these many years,” remarked Randall Chinchilla, Vice President Influencer Marketing and Corporate Affairs Coty Professional Beauty. “Our hope is to remain close together with our valued industry partners on this exciting journey for many more years to come.”
Sylvie Moreau, President Coty Professional Beauty concluded: “Over the past three years with Coty, we have managed to consolidate our business and lay out a solid foundation that we believe will set us up for success in this upcoming chapter. Together with thousands of partners around the globe, we’ve established our position as the #2 global player in the professional beauty industry, serving over 250,000 hair & nail salons in over 100 countries.”
“I am proud of what we have accomplished together and I am honored to continue leading this business and its people,” Moreau added. “We will remain focused on serving our customers with excellence and look forward to taking our and their businesses to the next level.”