Peltz is seeking a seat on the P&G board.
For Coty, Story is a learning lab that will live on in brick-and-mortar and online retail partners.
Designer brands are increasingly looking outside their borders for executives that bring a new set of skills, which have often been honed in consumer goods distribution.
According to a recent Nielsen transparency survey, 73 percent of consumers say they feel positively about brands that share the “why behind the buy” information about their products.
The company took particular issue with the $75 million price tag.
Trian’s Nelson Peltz filed a proxy statement Monday seeking a seat on P&G’s board.
Current ceo Mark Light is retiring after 35 years with the company.