View all news

Coty Inc. Confirms Transfer of Ten P&G Fragrance Licenses

January 12, 2016

NEW YORK--(BUSINESS WIRE)--Jan. 12, 2016-- Coty Inc. (NYSE:COTY) today confirmed that ten Procter & Gamble fragrance licenses will transfer to Coty upon regulatory approval and completion of the merger transaction, including Hugo Boss, Gucci, Lacoste, Bruno Banani, Escada, Mexx, James Bond, Gabriela Sabatini, Stella McCartney, and Alexander McQueen. The licensors of the Dolce & Gabbana and Christina Aguilera Perfumes licenses did not provide their consent within the specified timetable, and in accordance with the transaction agreement and in the interest of staying on track with the transaction, it was agreed that these brands will not transfer upon completion of the merger.

As per the transaction agreement, the assumed debt from the P&G Specialty Beauty Business will be adjusted downward to reflect the fact that ten out of the twelve available licenses, subject to regulatory approval, are transferred rather than all twelve. This downward debt adjustment will be based using specific and contractually pre-agreed formulas. The outcome of these formulas will be known at a later date, which Coty will disclose once determined.

Coty continues to anticipate a closure of the transaction in the second half of calendar 2016.

About Coty Inc.

Coty is a leading global beauty company with net revenues of $4.4 billion for the fiscal year ended June 30, 2015. Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories. Coty’s product offerings include such power brands as adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.

For additional information about Coty Inc., please visit

Forward Looking Statements
Certain statements in this release are forward-looking statements. Actual events may differ from the Company's current views due to risks and uncertainties. More information about potential risks and uncertainties is included under "Risk Factors" and "Management Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2015 and other periodic reports the Company may file with the Securities and Exchange Commission from time to time. The Company assumes no responsibility to update forward-looking statements made herein or otherwise.

Source: Coty Inc.

For Coty Inc.
Investor Relations
Kevin Monaco, + 1-212-389-6815
Jessica Baltera, + 1-212-389-7584
Jennifer Friedman, + 1-212-389-7175

Categories: Press Releases
View all news