 |
Michele Scannavini: “This acquisition is an important step in strengthening OPI’s position in Europe.” |
Coty has entered into an agreement to acquire Lena White Ltd, the largest international distributor of OPI, described by the group as one of its “power brands”. For the past 30 years, Lena White has served as OPI’s distributor in the UK for the professional and retail beauty channels.
Through this purchase, Coty will directly lead the development of the OPI brand in the UK, its second largest market, providing the necessary resources to accelerate development in both retail and professional channels, where Coty will continue to leverage Lena White’s strong management expertise.
“This acquisition is an important step in strengthening OPI’s position in Europe,” explained Coty CEO Michele Scannavini. “The OPI strategy remains focused on the salon professional and prestige channels, and we expect to accelerate its growth in the international markets by leveraging our investments in both areas. We welcome the Lena White team to the Coty family, and we look forward to integrating their unique expertise in our UK business.”
“We are all excited about the next phase of opportunity for Lena White Ltd and OPI,” added Lena White. “Our management team will continue in this new structure and we look forward to embracing the “˜Faster. Further. Freer.’ culture of Coty.”
[houseAd5]
