Coty, the prestigious US cosmetics and beauty product powerhouse, has embarked on a significant journey by commencing trading on the Paris stock exchange, expanding its reach to potential European investors.

This strategic milestone, originally announced in May, entailed the sale of 33 million shares, each priced at 10.45 euros. This move allowed Coty to amass an impressive 339 million euros ($358 million) in funds.

It’s noteworthy that the Paris stock exchange is renowned for hosting three of the world’s largest luxury conglomerates – LVMH, Hermes, and Kering, along with the beauty giant L’Oreal.

Coty boasts an extensive and illustrious portfolio of fragrances and skincare products, all meticulously crafted under licensing agreements with some of the most prestigious fashion houses globally. These include Burberry, Hugo Boss, Chloe, Gucci, and Marc Jacobs.

Interestingly, this Paris listing marks a return to the very roots of Coty’s inception. Established in 1904 in the heart of France by the legendary perfume maker Francois Coty, the company has come full circle.

Throughout its storied history, Coty’s ownership journey led to its acquisition by the US pharmaceutical group Pfizer in the 1960s. Since the 1990s, it has primarily been owned by JAB, a holding company representing Germany’s influential Reimann family.

Coty’s dual share listing strategically aims to allure European investors, particularly those whose investment mandates necessitate holdings in European-listed companies. This strategic move was emphasized by Coty’s astute Financial Director, Laurent Mercier.

Spanning operations across 125 countries, this American cosmetics juggernaut generates a remarkable one-third of its sales from Europe, where it employs half of its impressive 11,000-strong workforce.

Following its debut, Coty’s Paris shares concluded the trading session with a slight dip, settling at 10.39 euros.

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