-- Global Beauty Leader Strengthens Distribution of Power Brand, OPI
NEW YORK, Jan. 6, 2014 /PRNewswire/ -- Leading global beauty company Coty Inc. (NYSE: COTY) announced today that it has entered into an agreement to acquire Lena White Ltd., the largest international distributor of OPI, one of Coty's power brands. For the past 30 years, Lena White Ltd. has served as OPI's distributor in the UK for the professional and retail beauty channels.
Through this purchase, Coty will directly lead the development of the OPI brand in the UK, its second-largest market, providing the necessary resources to accelerate development in both retail and professional channels, where Coty will continue to leverage Lena White's strong management expertise.
"This acquisition is an important step in strengthening OPI's position in Europe," said Michele Scannavini, CEO of Coty Inc. "The OPI strategy remains focused on the salon professional and prestige channels, and we expect to accelerate its growth in the international markets by leveraging our investments in both areas. We welcome the Lena White team to the Coty family, and we look forward to integrating their unique expertise in our UK business."
"We are all excited about the next phase of opportunity for Lena White Ltd. and OPI," said Lena White. "Our management team will continue in this new structure and we look forward to embracing the 'Faster. Further. Freer.' culture of Coty."
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.6 billion for the fiscal year ended June 30, 2013. 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 global brands as adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
About Lena White Ltd.
Lena White Limited has been delivering expertise in Sales and Education for the global professional nail brand OPI for the past 30 years. The Lena White team offers a wealth of experience within the professional sector, delivering promotional, sales, merchandising and educational support directly to the Beauty & Nail Professional. Our Nationwide teams come with extensive knowledge of the industry and specialize in the OPI products ensuring our customers are aware of the latest product innovation, trends and treatments.
SOURCE Coty Inc.