NEW YORK — Coty Inc. hasn’t wasted any time moving on to plan B: The beauty firm has hired underwriters to prepare for an initial public offering.
Coty is said to have hired JPMorgan Chase and Bank of America as underwriters for an IPO, which WWD reported Wednesday was a possible next step for the company. A third underwriter is expected to be appointed but has not been set. Coty has not filed a shelf registration with the Securities and Exchange Commission yet; that could come within the next month or so now that underwriters have been hired.
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?"