“When I discussed this with KKR, they felt no one could do the job better,” Harf said.
Former Jimmy Choo ceo Pierre Denis will not join the company anymore, and will leave Coty’s board.
Coty says yes — but analysts aren’t so sure.
Coty planned to sell the professional division to pay down debt and focus the business on key categories.
Coty expects a 20 percent sales dip in the upcoming quarter, due to coronavirus.
LVMH’s Bernard Arnault ranked third in Forbes’ 34th annual list of global billionaires.
Coty Germany claims Amazon is in violation of its trademark rights over Davidoff scents.
Coty said it is expecting a 20 percent decline in sales, but will accelerate sales on Amazon and expand Kylie Skin in Europe.
“He is the rare, seasoned beauty executive who is not only a good licensor and licensee, but who also connects with and understands designers.”
Coty’s chairman Peter Harf confirmed the appointment early Friday.