Agreement Will Increase Coty's Footprint in the Emerging Market, and Bolster Avon's Fragrance Offering in Brazil
NEW YORK, May 14, 2014 /CNW/ - Coty Inc. and Avon Products, Inc. have entered into a partnership by which select Coty fragrances will be marketed and sold through Avon Brazil's network of 1.5 million independent sales Representatives.
Brazil, Avon's largest market, is also the largest fragrance market globally. The deal brings together Avon's extensive network of Representatives in Brazil and Coty's portfolio of celebrity and lifestyle fragrance brands in an effort to increase both companies' global fragrance market share, consumer loyalty and brand appeal in Brazil.
"This commercial partnership allows Coty to expand its geographical reach and strengthen our footprint in the emerging markets, with Brazil being a key driver in our growth strategy," said Renato Semerari, President, Coty Beauty. "Avon's extensive experience in Brazil makes the company an ideal partner, and we look forward to working together."
"We are pleased to enter into this marketing arrangement with Coty as part of our growth strategy in Brazil," said David Legher, President, Avon Brazil. "Coty's celebrity and lifestyle fragrances further expand our portfolio of high quality fragrances here, which will help our Representatives increase their earnings and reach a broader consumer base."
Forward-Looking Statements: Certain statements made in this release may be forward?looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Risks, uncertainties and other factors exist that may cause results to differ materially from those set forth in these forward?looking statements. Any forward?looking statements speak only as of the date they are made. Avon Products, Inc. and Coty Inc. do not undertake to update any such forward?looking statements.
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2013. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty's product offerings include such global brands as adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
About Avon Products, Inc.
Avon, the company for women, is a leading global beauty company, with $10 billion in annual revenue. As one of the world's largest direct sellers, Avon is sold through more than 6 million active independent Avon Sales Representatives. Avon products are available in over 100 countries, and the product line includes color cosmetics, skincare, fragrance, and fashion and home products, featuring such well-recognized brand names as Avon Color, ANEW, Skin-So-Soft, Advance Techniques, and mark. Learn more about Avon and its products at www.avoncompany.com.
SOURCE: Coty Inc.
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