NEW YORK--(BUSINESS WIRE)--Revlon, Inc. (NYSE:REV) and Coty Inc. (NYSE:COTY) announced that Revlon has acquired Coty’s international Cutex businesses, which primarily operates in Australia and the U.K. With this acquisition, Revlon completed the global consolidation of the Cutex brand’s worldwide operations under Revlon management.
“Cutex has been a consistent source of innovation, from its invention of liquid nail polish in 1917 to its popular nail polish removers widely used today,” said Gianni Pieraccioni, Executive Vice President and COO of Revlon. “With this acquisition, Revlon continues to enhance our global brand portfolio and it provides us with a springboard to grow the Cutex brand worldwide. We are excited to complete the global consolidation of the Cutex brand, as this will enable us to optimize the brand’s full potential.”
Commenting on the sale of the Cutex business, Patrice de Talhouët, Coty’s EVP and Chief Financial Officer said: “As recently announced, Coty aims to rationalize its portfolio by focusing on fewer brands to drive a higher growth and better quality business, transforming Coty into a new global leader and challenger in the beauty industry. Coty’s sale of these Cutex businesses is another step towards our strategy. Coty will continue to drive its leadership in the consumer and salon nail category as a key part of its growth strategy, however the Cutex business was not a focus-brand for Coty.”
For over 100 years, Cutex has provided consumers with quality and innovative nail products, including a wide range of nail polish remover products, including Cutex liquid nail polish removers, nail polish remover pads, jar nail polish removers and gel polish removers.
By re-unifying Cutex’s worldwide operations within Revlon’s brand portfolio, Revlon is now positioned to strengthen the Cutex brand by focusing on redesigning the existing Cutex nail care products to enhance consumer appeal and expanding its portfolio into additional categories.
Terms of the acquisition were not disclosed.
About Revlon
Revlon is a global cosmetics, hair color, hair care and hair treatments, beauty tools, men’s grooming products, anti-perspirant deodorants, fragrances, skincare, and other beauty care products company. The company’s vision is to establish Revlon as the quintessential and most innovative beauty company in the world by offering products that make consumers feel attractive and beautiful. Revlon believes that its global brand name recognition, product quality, R&D, innovation and marketing experience have enabled it to create leading global consumer and professional brands. Revlon’s Consumer segment global brand portfolio includes Revlon® color cosmetics, Almay® color cosmetics, SinfulColors® color cosmetics, Pure Ice® color cosmetics, Revlon ColorSilk® hair color, Revlon® Beauty Tools, Charlie® fragrances, and Mitchum® anti-perspirant deodorants. Revlon’s Professional segment global brand portfolio includes: Revlon Professional®, CND®, including CND’s Shellac® brand 14+ day nail color system and Vinylux® weekly nail polish, and American Crew® men’s grooming products. Websites featuring current product and promotional information can be reached at www.revlon.com, www.almay.com, www.mitchum.com, www.revlonprofessional.com, www.americancrew.comand www.cnd.com. Corporate and investor relations information can be accessed at www.revloninc.com.
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.4 billion for the fiscal year ended June 30, 2015. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty’s product offerings include such power brands as adidas, Calvin Klein, Chloé, DAVIDOFF, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen. For additional information about Coty Inc., please visit www.coty.com
