With the appointment of Jean Mortier as president of Coty Prestige, the parent company took another major step Wednesday in bolstering its bench strength in preparation for a planned initial public offering, which reportedly has been rescheduled for next spring.
Mortier succeeds Michele Scannavini, who was named chief executive officer in late July when former ceo Bernd Beetz disclosed that he was passing the torch to his “right arm.” Although Beetz, one of the leaders of the global fragrance industry, stepped down, he remains on the Coty board as non-executive director, owning 6.2 million shares, or 1.6 percent of the company. This is a critical time for Coty, as it recovers momentum from its failed attempt to acquire Avon Products Inc. and builds steam for its expected $700 million IPO next year.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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?"