NEW YORK (TheStreet) -- Coty (COTY) announced a new organizational structure today revolving around categories and regions as the beauty products maker looks to improve its profitability, the Wall Street Journal reports.
All Coty brands will now be under four consumer driven categories, fragrance, skin care, color cosmetics and body care.
The company will organize itself under four markets: North America, Europe, Latin America, and Asia-Pacific/Middle East, Africa, and not the current two stand-alone division model of Coty Prestige and Coty Beauty, the company said.
Shares of Coty are down -1.22% to $17.74 in early morning trade.Must Read: Warren Buffett's 25 Favorite Growth Stocks
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