COTY INC. OFFERS TO BUY BOURJOIS COSMETICS BRAND FROM CHANEL TO STRENGTHEN ITS GLOBAL LEADERSHIP POSITION IN COLOR COSMETICSOctober 7, 2014
CHANEL would become an important shareholder of COTY upon successful completion of the transaction
NEW YORK and PARIS, October 7, 2014 — Coty Inc. (NYSE: COTY) and CHANEL today announced that Coty has submitted a binding offer to acquire the Bourjois cosmetics brand from CHANEL for 15 million Class A Coty shares. CHANEL has agreed to enter into exclusive negotiations.
Bourjois’ portfolio of color cosmetic products are sold through approximately 23,000 points of sale in more than 50 countries around the world, enjoying leading positions in some of the most attractive markets for color cosmetics, such as Western Europe, the Middle East and Asia. Bourjois was founded in 1863, by French actor Joseph-Albert Ponsin, who developed a line of color cosmetics for his fellow actors.
"We are looking forward to having the Bourjois brand as part of our portfolio of leading beauty products, as well as welcoming CHANEL as a Coty shareholder,” said Bart Becht, Chairman and Interim CEO of Coty Inc. “Bourjois’ brands are highly complementary to Coty’s existing color cosmetics portfolio. Additionally, the company’s strong heritage, quality image and leadership positions in a number of Western European countries where Coty is seeking to bolster its presence, provide a great opportunity for Coty to further strengthen its leadership position in the large and growing color cosmetics category.”
“We are excited about the potential opportunities that joining with Coty could present for Bourjois,” said Michael Rena, CHANEL'S Representative. “Coty and Bourjois share a passion for color cosmetics and together they would have strong potential to further advance their leadership in this attractive global category. We intend to examine the offer in more detail and enter constructive talks with Coty.”
The proposal is subject to customary closing conditions, including regulatory clearances. The relevant employee representative bodies will be consulted prior to entering into a definitive agreement.
Certain statements in this press release are forward-looking statements. These forward -looking statements reflect Coty’s current views with respect to the offer to acquire Bourjois and the benefits of such a transaction, including its effect on Coty’s position in color cosmetics. These forward-looking statements are generally identified by words or phrases, such as “looking forward,“ “welcoming,“ “seeking,“ “opportunity,“ “potential,“ “could,“ “intend, “ “will,” “would” and similar words or phrases. Actual results may differ materially from the results predicted due to risks and uncertainties including whether the transaction will be completed on the terms or timeline expected or at all, inaccuracies in our assumptions in evaluating the transaction, difficulties in integrating the Bourjois cosmetics brand into Coty and other difficulties in achieving the expected benefits of the transaction. More information about potential risks and uncertainties that could affect Coty’s business and financial results is included under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Coty’s Annual Report on Form 10-K for the fiscal year ended June 30, 2014, and other periodic reports Coty has filed and may file with the Securities and Exchange Commission from time to time. Coty assumes no responsibility to update forward-looking statements made herein or otherwise.
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2014. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty’s product offerings include such global brands as adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
Beauty with French accent since 1863! This is the motto of Bourjois, a French company that operates in more than 50 countries. The brand has been distributing for more than 150 years, original, creative, and whimsical products, which make the famous Parisian chic accessible to all women in the world.
Chief Communications Officer
Coty Inc. Announces Executive Leadership ChangeSeptember 29, 2014
NEW YORK, September 29, 2014 — Coty Inc. (NYSE: COTY) today announced that Chief Executive Officer Michele Scannavini has stepped down from his role at the company for personal reasons and resigned from Coty’s Board of Directors. Coty’s Chairman Bart Becht will become interim CEO, working with Coty’s Executive Committee to ensure a smooth transition and oversee major decisions at the company. The company intends to commence a search process for Mr. Scannavini’s permanent successor immediately. Mr. Becht will remain as Chairman of the company once a permanent successor has been appointed.
“I want to thank Michele for his many contributions during his career at Coty,” said Mr. Becht. “Michele has been a material part and key contributor to Coty’s success over the past decade. We would like to thank him in particular for taking Coty public through a listing on the New York Stock Exchange and developing a clear strategy for Coty’s future. We will miss Michele’s professionalism and humanity; we wish him the very best as he moves on to the next phase of his career.”
Mr. Becht joined the Coty Board of Directors as Chairman in 2011. From 1999 to 2011, he served as chief executive officer of Reckitt Benckiser plc, a leading global consumer goods company in the field of household cleaning and health and personal care. Mr. Becht also held a variety of marketing, sales and finance positions at The Procter & Gamble Company. He earned a Masters of Business Administration from the University of Chicago Booth School of Business and a Bachelor of Arts in Economics from the University of Groningen in the Netherlands.
Mr. Becht added, “Coty is a great company and leader in the Global Beauty industry thanks to its extraordinary group of talented employees and strong portfolio of category-leading brands. It is also a company that is well positioned to extend its leadership in the Beauty industry in a way that drives shareholder value over the long term. To achieve both, the Board intends to put in place a permanent CEO who will further accelerate Coty’s progress towards its stated strategic priorities of growing Coty’s power brands across the globe and implementing its global efficiency plans. We believe both a clear focus on and execution of these priorities should help drive both profitable growth and shareholder value. ”
“I feel honored to have led Coty through an important chapter of its history and proud to have contributed to the success of the Company over the last 12 years,” said Mr. Scannavini. “It has been an extremely rewarding adventure, developing great brands and leading a group of exceptionally talented and passionate people. I wish Coty and my long-time colleagues the brightest future and many more years of success.”
The Coty CFO, Patrice de Talhouët, will be hosting a brief conference call for analysts and investors today at 9:30 AM ET to discuss the announcement. The dial-in number for the call is (888) 802-8577 domestically and (973) 935-8754 internationally (conference passcode number: 12338177). There will be a 48-hour replay period for this call.
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2014. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty's product offerings include such power brands as adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
For additional information about Coty Inc., please visit www.coty.com.
For more information:
Kevin Monaco, 212-389-6815, Senior Vice President, Treasurer and Investor Relations
Catherine Walsh, 212-389-7346, Chief Communications Officer
N.Y.C. NEW YORK COLOR SIGNS, MULTI-TALENTED RECORDING ARIST, DEMI LOVATO AS FIRST-EVER GLOBAL BRAND AMBASSADORSeptember 26, 2014
NEW YORK, September 26, 2014 — Coty Inc. (NYSE:COTY) announced today that multi-platinum selling recording artist and actress, Demi Lovato is joining N.Y.C. New York Color as its first-ever Global Brand Ambassador. The multi-talented performer will be featured in global marketing and social media campaigns to support N.Y.C. New York Color cosmetics and nail enamel lines. Lovato, who just kicked off her World Tour, will appear in her first N.Y.C. New York Color advertising campaign at the start of 2015. With her fearless, playful attitude towards beauty, Demi Lovato emulates N.Y.C. New York Color’s mission to deliver fashionable, innovative, yet budget friendly go-to beauty essentials inspired by the hottest trends from the New York fashion scene.
“We are thrilled to welcome the talented Demi Lovato into the N.Y.C. New York Color family,” comments Johanna Businelli, Chief Marketing Officer, Color Cosmetics, Coty Inc. “Demi’s youthful, modern sensibility, audacious style and wide-reaching appeal make her the perfect choice to represent N.Y.C. New York Color on a global scale. Her impressive social influence will also help us to further engage with a new generation and Demi’s fans. Demi’s accessibility and willingness to play with color and fashion trends embodies the spirit of N.Y.C. New York Color.”
“I’m really excited to be partnering with N.Y.C. New York Color,” says Demi Lovato. “Their products make playing with different looks and trends fun, easy and affordable by all!”
Lovato will represent the full range of N.Y.C. New York Color products, including eye shadow, mascara, lip color, face powders and nail polish. As the face of N.Y.C. New York Color, Demi Lovato will be featured in global multimedia campaigns including print, digital, in-store and social media platforms. Exclusive behind-the-scenes content from Lovato’s campaigns will be available on NewYorkColor.com and N.Y.C. New York Color’s social media channels.
About Demi Lovato
Demi Lovato is a singer, songwriter, and television star with a fan base that includes over 24 million die-hard Twitter followers and 36 million fans on Facebook. She is a platinum-selling recording artist whose latest album, Demi, hit #1 on iTunes in over 50 countries around the world. The lead single, "Heart Attack," earned Platinum status just ten weeks after its launch. Demi is about to embark on her WORLD TOUR and recently wrapped her first headlining and sold-out NEON LIGHTS TOUR, which was named after her platinum single and Top 5 radio hit off her album, Demi. In addition to her musical accomplishments, this past year, her book, "Staying Strong: 365 Days a Year," became a New York Times best-seller; she returned to television as a judge and mentor on "The X-Factor" and starred in Fox's hit series "Glee." She is an outspoken advocate for young people everywhere. She has become a role model by talking openly about her personal experiences and speaking out against bullying among other issues. She serves as an official Ambassador for We Day and the organization Free The Children. She has recently launched The Lovato Treatment Scholarship Program, which helps people struggling with mental health and/or addiction issues cover the cost of treatment.
About NYC New York Color
N.Y.C New York Color was created in 1999. Instantly redefining the US budget cosmetics category, it offers exciting innovation and great quality, packaging and shades that reflect the beating heart and energy of the city. Inspired by latest fashion weeks and NY trendsetters, N.Y.C New York Color has established itself as a favorite amongst young color lovers. Sold in 14 markets worldwide, N.Y.C New York Color aims to be the brand that cascades the most fashionable make-up products from runway to beauty stores at budget prices with no trade-off on quality. It’s New York Fashion Beauty now accessible for all!
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2014. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, skin care, color cosmetics, and body care products sold in over 130 countries and territories. Coty's product offerings include such global brands as adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
Coty Inc. Declares Annual Dividend of $0.20 Per ShareSeptember 16, 2014
NEW YORK, September 16, 2014 — Coty Inc. (NYSE: COTY) will pay an annual dividend of $0.20 per share on its Class A and Class B Common Stock on October 15, 2014 to stockholders of record at the close of business on October 1, 2014.
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2014. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty’s product offerings include such power brands as adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
For additional information about Coty Inc., please visit www.coty.com.
Forward Looking Statements
Certain statements in this release are forward-looking statements. These forward-looking statements reflect Coty Inc.’s (the “Company”) current views with respect to its annual dividend and are designated by the word “will” or similar words or phrases. Actual events may differ from the Company’s current views due to risks and uncertainties. More information about potential risks and uncertainties is included under "Risk Factors" and "Management Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2014 and other periodic reports the Company may file with the Securities and Exchange Commission from time to time. The Company assumes no responsibility to update forward-looking statements made herein or otherwise.
For more information:
Coty Investor Relations
Kevin Monaco, 212-389-6815
Coty Corporate Communications
Catherine Walsh, 212-389-7346
Coty Inc. Reports Fiscal 2014 Fourth Quarter and Full Year ResultsAugust 28, 2014
Full Year Earnings Per Share Nearly Flat Despite a Very Challenging U.S. Market
Global Efficiency Plan Announced to Save Over $200 Million Per Year, Helping Re-Energize Growth and Accelerate Earnings
Coty to Continue Executing Share Repurchase Program
Click here to see the earnings report.