Coty Is Buying a Majority Stake in Cosmetics Retailer Younique

Beauty company Coty (COTY) - Get Report is purchasing a 60% majority stake in cosmetics retailer Younique for about $600 million. Younique was founded in 2012 and has a peer-to-peer ecommerce system that taps social media to sell products. Younique boasts over 4 million customers across 10 countries. "We are thrilled to have Coty as a partner and expect that together we will be able to take Younique to new heights," said Derek Maxfield, Younique's CEO and founder. Coty shares rose slightly on Tuesday.