Puig/Coty deal
This article was originally published in The Rose Sheet
Executive Summary
Puig Beauty & Fashion Group will expand its presence in the U.S. through a strategic partnership with Coty, firms announce Feb. 24. Effective July 1, Coty Prestige will take over "back office services, logistics, and its strong commercial platform, while Puig will manage the development of its brand portfolio through its own marketing team," companies note. "We have had for some time an ambition to make further inroads into the U.S. market, and this alliance is an important part of realizing that goal," Puig Beauty & Fashion Group CEO Marc Puig says, adding "We are confident the Coty organization is the best possible partner to help us understand the retail landscape and work with us towards the future success for our brands." Barcelona company's fragrance portfolio includes prestige scents under Carolina Herrera, Prada, Nina Ricci, Paco Rabanne and Comme des Garcons...