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Coty launches global unit

This article was originally published in The Rose Sheet

Executive Summary

Coty brings together its mass businesses in the Americas, Europe and Asia into a single global business unit entitled Coty Beauty. The reorganization will strengthen Coty's efforts to build the portfolio and to create new opportunities in Asia, company says. The reorganization positions the company to achieve its goal of becoming a "top-five global beauty company," CEO Bernd Beetz says in a Feb. 19 statement. The new division will be led by Hans Joachim Honigfort, the former president of Coty Beauty Europe. The company reorganized its global prestige business in 2006 with the creation of the Coty Prestige division. In October 2006, Beetz presented the firm's strategy for doubling in size to become a $ 5 bil. company within five years (1"The Rose Sheet" Oct. 9, 2006, p. 5)...
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