Coty has announced a renewed partnership with Chalhoub group, a partner for luxury across the Middle East, through its Coty Middle East FZCO joint venture.
The agreement is said to help Coty to continue to develop its capabilities across the Middle East, giving consumers greater access to its products in the Luxury, Consumer Beauty and Professional Beauty divisions.
The two parties have signed an amendment of the original shareholders agreement, with Coty holding 75 percent of the deal due to the contribution from the P&G Specialty Beauty Business.
Camillo Pane, CEO, Coty said, “The Middle East region has enjoyed steady growth in beauty over the past decade and is a key market for Coty. Since 2004, the Chalhoub Group has proven to be an exceptional partner to Coty in the region. Through our renewed partnership following the merger of the P&G Specialty Beauty Business into Coty, we look forward to further growing our business in the Middle East.”