Coty Divests Younique Stake

Coty Inc. is getting out of the multi-level marketing business. The owner of CoverGirl and Wella said Wednesday that it was selling its 60 percent stake in Younique, which has struggled in recent quarters, back to the company’s other shareholders. In an interview on Wednesday morning, Coty chief financial officer Pierre-André Terisse said that shedding Younique will allow Coty to focus its energies on the other business units. Terms of the deal were not disclosed. Coty paid $600 million for a 60 percent stake in Younique in early 2017, under the leadership of Coty’s prior management team. “Our presence in Younique for the past few years has been an accelerator of our digital strategy, which has today become one of Coty’s strengths. We now need to focus on our turnaround plan and the significant opportunities which lie in our Luxury, Consumer and Professional businsses,” said Pierre Laubies, Coty chief executive officer, in a statement. WWD reported that Coty is said to be considering divestitures as part of its turnaround plan in July, a few weeks after the company’s plan was disclosed. The Younique news came as the company released its fourth quarter and full-year financial results — the numbers were still down, except for in

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