US. Coty Inc has consolidated its position in the Middle East by creating a joint venture agreement with an affiliate of Michel Chalhoub Trading Co. The result is a new Coty subsidiary, Coty Middle East FZCO, to be based in Dubai.
The affiliate has been the exclusive distributor of Coty Beauty and Lancaster Group products in the Middle East for the past seven years.
“We recognised the enormous potential of the Middle East fragrance and cosmetics market and quickly put our strategy in place,” commented Coty CEO Bernd Beetz. “Our strategy is to build a leadership position for Coty in new areas and [we] realised that Coty could capitalise on the true market potential in the Middle East, a region which can give us access to a large consumer market.”
Correspondingly, Coty has appointed Hani Jabbour General Manager of Coty Middle East FZCO. Most recently he was General Manager of Fitra International Fze, a related distributor of international fashion, accessories and fragrances. Prior to joining Fitra, Jabbour worked at Michel Chalhoub Trading Co in various commercial roles.
In addition, Xavier Serradesanferm of the Coty Granollers office, and Chris Evans of Coty Beauty Export, will become part of Jabbour’s team.
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