Wednesday, October 08, 2014

Coty want to buy Chanel brand

The American beauty products manufacturer Coty, Rimmel marks, Calvin Klein and Davidoff, launched an offer for Chanel for purchase of Bourjois cosmetics brand, with payment in shares. The plan is to expand the international expansion.
The Frenchwoman Chanel would receive 15 million shares of Coty, valued at approximately $ 240 million, to sell the cosmetics brand sold in 50 countries, staying with 16% stake in Coty. "We will analyze the offer in detail and enter into negotiations with the Coty," said Michael Rena, spokesman for Chanel.
The offer is the latest move of Coty to rebalance the product line and enhance growth opportunities in the international market. After not being able to buy Avon in 2012 by more than $ 10 billion, the Coty made an initial public offering of shares to bolster the box and seek acquisitions in international expansion. But the operation, $ 1 billion in June 2013, not cheered investors.
As with l ' Oréal and Estée Lauder, the growing purchasing power of the middle class in emerging countries continues to exercise power of attraction on the Coty, despite the headaches related to the company had with the acquisition of $ 400 million in Chinese brand of products for skin TJoy, in 2010.
In February, Coty and Avon have announced agreement to sell Coty perfumes through Avon representatives in Brazil.
Bart Becht, Chairman of the Board and interim CEO of Coty, said the acquisition of Bourjois will help the company reach more consumers in Western Europe, where it is one of the market leaders, as well as in the Middle East and Asia.
The CEO took the helm of the company in September. It was the second change of command in little more than two years. Bernd Beetz, Coty, who led for a long time and assumed position of evidence in the public battle for the acquisition of Avon, left in 2012.
Valor Economico
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