US. Coty Inc, the world’s largest fragrance company and a leader in the colour cosmetics sector, today announced the creation of Coty Prestige, a division specifically created to manage the company’s premium brands.
Coty Prestige unites the Lancaster Group with the former Unilever Cosmetics International, leveraging the combined power of both groups’ varied and robust portfolios of recognised fragrances and skin care products.
Michele Scannavini, President of the Lancaster Group since March 2002, was recently named President of Coty Prestige and will lead the group. It has a yearly turnover of approximately US$1.6 billion and operates in over 80 countries worldwide.
“The creation of this new division makes a definitive statement about our presence in the selective sector and clearly demonstrates the positioning of our prestige offer,” said CEO Bernd Beetz. “This move consolidates our position as world leader in fragrance and convincingly prepares the way for the achievement of our ambition to become a top-five global beauty company. It firmly puts us at the heart of the prestige market.”
Coty Prestige will continue to drive its three pillars of strength that have led to its current success:
– Celebrity fragrances: Jennifer Lopez and Sarah Jessica Parker
– Designer brands: Calvin Klein, Cerruti, Jette Joop, Jil Sander, Joop!, Kenneth Cole, Marc Jacobs, Nikos, Vivienne Westwood and Vera Wang
– Lifestyle brands: Baby Phat, Chopard, Davidoff, Lancaster and Nautica
“It unites some of the market’s greatest brands and most talented people to create an unmatched force in the selective market,” said Michele Scannavini. “Our new organisation has been planned and developed to best answer to the evolution of the retail environment. Also, it will give to all our brands the chance to achieve their highest potential.”
To best leverage the essence and diversity of Coty Prestige’s worldwide brand portfolio, the headquarters is Paris-based with two centres of operation – one in New York and one in Paris.
About Coty Inc
Coty Inc. is the largest fragrance company in the world and one of the leaders in global beauty with annual net sales approaching US$3 billion. Coty Inc operates in over 25 countries and sells its products in broad and select distribution channels in over 80 markets spanning the Americas, Europe and Asia.
Coty Inc, comprised of the Coty Beauty and Coty Prestige divisions, has a diverse portfolio of over 35 distinctive celebrity, designer and lifestyle brands.
Top sellers include Calvin Klein, adidas, Rimmel, Davidoff, Lancaster, Jennifer Lopez, Jil Sander, Joop! and Kenneth Cole. Additional distinguished brands include Aspen, Astor, Baby Phat, Calgon, Celine Dion, Cerruti, Chopard, Chupa Chups, David & Victoria Beckham, Desperate Housewives, Esprit, Exclamation, Isabella Rossellini, Jette Joop, Jovan, Marc Jacobs, mary-kateandashley, Miss Sixty, Miss Sporty, Nautica, Nikos, Pierre Cardin, Sarah Jessica Parker, Shania Twain, Stetson, the healing garden, Vanilla Fields, Vera Wang and Vivienne Westwood. For further information on Coty Inc. and its products, please visit www.Coty.com.
