This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Coty Inc. And Puig Announce Mutual Decision Not To Renew North American Distribution Agreement

NEW YORK, Feb. 15, 2013 /PRNewswire/ -- Coty Inc., a new emerging leader in beauty, and Puig S.L., a respected fashion and fragrance company, have mutually decided not to renew their distribution agreement in North America, which expires June 30, 2013. This decision is the amicable end to a six-year partnership, during which Coty has significantly expanded the market presence for Puig fragrances, and allows Coty to focus fully on its own brands.

"After the strong and collaborative partnership Coty has enjoyed with Puig over the past six years, we are now at the stage where we need to fully focus on our own portfolio, which has grown bigger and stronger over the past years," said Mr. Michele Scannavini, CEO, Coty Inc. "We are all proud of the great work we've done and results achieved with the Puig business, and we wish the company continued success in the future."

As a result of this decision, Coty Prestige will assume selling responsibility for the Coty Beauty brands that are distributed in Prestige retailers, which are currently sold by a third party distributor.

"Puig is very appreciative of the support and the very positive results of the collaboration with Coty in the U.S. and Canada over the past years," said Mr. Marc Puig, Chairman and CEO of Puig. "Our business has more than doubled during this period. As a result the time has come for Puig to redefine a new approach to pursue growth in the North American markets."

About Coty Inc. Coty is a new emerging leader in beauty with net revenues of $4.6 billion for the fiscal year ended June 30, 2012. 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.

For additional information about Coty Inc., please visit www.coty.com

About Puig Puig is a third-generation family-owned fashion and fragrance business based in Barcelona. Puig's strength lies in its ability to build brands, in shaping the image of brands through fashion, and in translating that same image into the world of fragrance through storytelling and product excellence.

Puig's strong performance has resulted in substantial growth and revenues of € 1.3 billion in 2011. Its success stories include a combination of owned brands such as Carolina Herrera , Nina Ricci , Paco Rabanne and Jean Paul Gaultier , licenses such as Prada, Valentino and Comme des Garcons, and celebrity fragrances. Puig products are sold in more than 130 countries.

Further information can be found at http://www.puig.com.

SOURCE Coty Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs