Coty
This article was originally published in The Rose Sheet
Executive Summary
Firm forms Coty Middle East FZCO, a joint venture with Michel Chaloub Trading Co. based out of Dubai, company announces July 23. A Michel Chaloub affiliate has been the esclusive distributor of Coty Beauty and Lancaster Group products in the Middle East for seven years, Coty notes. "Our strategy is to build a leadership position for Coty in new areas and [we] realized that Coty could capitalize on the true market potential in the Middle East, a region which can give us access to a large consumer market," Coty CEO Bernd Beetz said. Firm has appointed Hani Jabbour as General Manager of the new subsidiary. Exec previously was General Manager of Fitra International Fze, a fashion accessory and fragrance distributor, according to Coty...
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