Coty Inc. has named Marc Rey president of Coty Prestige U.S. and regional vice president of Coty Prestige, North America.
Rey, who will begin his new role on Jan. 2, was most recently president of the International Designers Collection at L’Oréal USA. During Rey’s four-year stint at L’Oréal, he also served as president of Giorgio Armani Beauty U.S., and chief executive officer and managing director of YSL Beauté in the U.S. L’Oréal acquired YSL Beauté in 2008.
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Rey will report to Jean Mortier, president of Coty Prestige, and be based in New York, where he currently lives.
At Coty Prestige, Rey’s responsibilities will include overseeing the current U.S. Coty Prestige portfolio of brands, Coty Prestige Canada and Philosophy, as well as key Sephora accounts in the Americas.
“Marc’s deep expertise within the beauty industry, his energetic, entrepreneurial approach to the business and his impeccable track record make us confident that he will lead our prestige business in North America to new heights,” said Michele Scannavini, ceo of Coty Inc. In addition to his L’Oréal role, Rey has also held executive roles at McKinsey & Co. and Johnson & Johnson. Rey holds degrees from École Supérieure de Commerce de Paris and INSEAD.
Rey will replace Bob Cankes, who plans to retire at the end of the year after 14 years with Coty and more than 40 years in the beauty industry.
“Our thanks go out to Bob for his many years of contribution toward Coty’s successful development in North America,” said Scannavini. “He played a primary role in growing our prestige business from being a small challenger to now being a leader in the U.S. fragrance industry. We are grateful to Bob for his dedication and passion and we wish him a well-deserved retirement.”