Coty creates South Africa subsidiary
Fragrance giant Coty has formed a new, wholly owned subsidiary in South Africa in order to direct, manage and fully operate all of its South African business as well as its business in 13 other African countries. In an agreement with long-term partners Indigo Brands Proprietary Limited (a subsidiary of Avi, Coty has signed an agreement for the manufacturing, distribution and marketing of Coty products in the region. Indigo Brands served as Coty’s exclusive licensee in South Africa for the past 13 years.
Coty – whose annual revenue came in at 4.6 billion dollars for the year ended 30 June 2013 – is looking to promote mass brands sales growth and enable the beauty giant to increase its footprint in the region.
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