Coty focuses on emergent beauty markets
Coty has reinforced its position in South-East Asia after signing an agreement to buy StarAsia, a company that specializes in the distribution of beauty products in Cambodia, Hong Kong, Indonesia, Malaysia, Singapore, Taiwan and Vietnam. The company was created in 2001 by former LVMH man, Frédéric Cassin. The exact figures of deal have not been divulged. "The acquisition of StarAsia provides us with an established distribution platform to sell our mass brands in key developing markets in the Southeast Asia region," said Mr. Michele Scannavini, CEO of Coty Inc.
On the other side of the world, Coty has just signed a joint-venture with Frajo International, another distributer in the beauty industry, this time based in Brazil. Frajo was founded in 1995 and has around 20 brands in its portfolio as well as a network of 8500 points of sale. This new project will allow Coty to sell its masstige brands - which include OPI, Sally Hanson and Rimmel, across Frajo’s extensive retail network.
Brazil is the world’s third largest beauty market with annual growth of around 10%, boosted by a budding middle class in the country. Coty already works with a home-delivery partner in Brazil to distribute some brands in its prestige division.
Present in 130 countries, Coty reported annual revenue of 4.6 billion dollars for fiscal year 2012, ended June 30.
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