BEAUTY GIANT COTY INC.'S $4.3BN RESCUE DEAL

BEAUTY GIANT COTY INC.’S $4.3BN RESCUE DEAL

BEAUTY GIANT COTY INC.’S $4.3BN RESCUE DEAL

by CULTED
1 min

Beauty Giant Coty Inc.’s $4.3 billion Rescue Deal.

Music by: Image credit: Kylie Cosmetics, Coty inc.

It’s CULTED with your latest BEAUTY BLAST.

Have you guys been doing any make-up shopping during lockdown? 

Like the fashion industry, it looks like COVID-19 will also leave a lasting impact on the roughly $500bn beauty industry. 

Coty inc., the beauty firm who purchased 51% of Kylie Cosmetics for a staggering $600mn late last year, has turned to private equity firm KKR for financial support.

As part of a $4.3bn deal, Coty has agreed to sell 60% of its hair-care business, which includes Wella and Clairol, giving the group a much-needed injection of cash.

This will also allow Coty to focus on prioritising investments for the remainder of their categories, including mass beauty brands like Kylie Cosmetics. 

So KJ’s lip-kits are safe for now!

Coty plans to keep a 40% stake in the businesses and will retain ownership of all its business in Brazil.

So guys are you shocked by the news?

Watch more videos on CULTED

See also: KYLIE JENNER SELLS 51% OF KYLIE COSMETICS

See also: RIHANNA MOVES BEAUTY INFLUENCERS INTO FENTY TIKTOK DREAM HOUSE

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