Coty Inc. has begun to implement a massive reorganization aimed at transforming the global beauty player by reinforcing its growth track and strengthening its leadership capability.
The company, which has 10,000 employees, is in the process of dramatically changing from a business model consisting of two separate end-to-end divisions — based on the distribution channels of mass and prestige — to a more integrated and holistic alignment focusing on product categories and geographic regions, while maintaining the prestige and mass differentiation in brand building and product development. “This will be a simpler organization,” said Michele Scannavini, chief executive officer of Coty Inc., adding that the new structure will be “more rational, more integrated, more efficient and will eliminate redundancy.”
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)