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Coty Renews Mideast Partnership

The company is strengthening its operations in the region by renewing its collaboration with Chalhoub Group.

PARIS Coty Inc. has renewed its longstanding partnership with distributor Chalhoub Group in the Middle East to strengthen its operations in region.

The companies had formed a Dubai-based subsidiary, called Coty Middle East FZCO, in mid-2004.

“Following the merger of the P&G specialty beauty business into Coty, finalized in October 2016, both parties have agreed to reinforce their partnership to allow the integration of the P&G specialty beauty brands within the joint venture and hence have set up a revised structure to drive further growth,” the companies said in a joint statement on Wednesday.

“The Middle East region has enjoyed steady growth in beauty over the past decade and is a key market for Coty,” said Camillo Pane, Coty chief executive officer.

Coty and Chalhoub have signed an amendment of their shareholders’ agreement, giving Coty a 75 percent stake in the joint venture, reflecting the increased contribution of the P&G specialty beauty business.

Chalhoub, founded in 1955, focuses on retail, distribution and marketing services for luxury brands throughout the Middle East. The Dubai-based company has more than 12,000 employees in 14 countries and operates more than 650 stores.

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Coty is the world’s largest fragrance manufacturer, with brands including Gucci, Hugo Boss, Calvin Klein and Chloé. The New York-based company ranks second in professional salon hair color and styling, and third in color cosmetics globally. Other brands in its portfolio include Rimmel, Wella, Adidas and Guess.