THE WHAT? Ex Coty CEO Peter Harf has upped his stake in the US beauty behemoth to the tune of US$150 million, according to a report published by Bloomberg, quoting a regulatory filing as its source.
THE DETAILS The deal is described as a ‘show of support’ for Coty by Reuters; the maker of Calvin Klein and Davidoff scents has struggled since the purchase of the P&G beauty portfolio and the pandemic hasn’t helped matters any.
THE WHY? Harf told Reuters, “I put my money where my mouth is. I believe in Coty and I believe in Sue [Y Nabi] and I am investing my own money into this company.”