Coty has announced that it has entered into a definitive agreement to acquire Beamly, a cutting-edge digital marketing firm based in New York and London. Terms of the transaction were not disclosed.
Beamly’s core activity is to drive audience growth and engagement for consumer brands in digital media, particularly social media. While Beamly will continue to work across non-Coty clients, the acquisition will provide Coty with enhanced digital engagement capabilities, allowing Coty and its licensors to benefit from the agency’s suite of social media benchmarking, content creation and optimization.
The Beamly team will continue to be led by CEO Jason Forbes, and work closely across Coty’s in-house marketing organization based in a dedicated section of Coty’s New York office under the supervision of Camillo Pane, Executive Vice President Category Development at Coty. The London team will remain in its current offices.
“The acquisition of Beamly will address the accelerating consumer shift in time spent from traditional media to real time digital and social media channels,” said Pane. “Jason and the team have proven capabilities and a proprietary platform that successfully targets and engages millennial consumers. Further, Beamly will help us to accelerate the growth of our e-commerce business and be a positive contributor as Coty advances toward becoming a highly focussed, pure-play leader and challenger in beauty.”