COTY SHARE BUYBACK: Coty Inc. has agreed to purchase 27.9 million shares of Class B common stock owned by Berkshire Partners and Rhone at a price of $17.78 per share. The total consideration to be paid for the stock purchase will be $468 million.
Coty said the purchase is part of the firm’s share repurchase strategy.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"