Coty Team Talks M&A, ‘Sensible’ Retail Plans

Coty Inc. is “moving at pace” in terms of divestitures, according to chief financial officer Pierre-André Terisse.  The owner of CoverGirl and Wella said Wednesday it is getting out of the multilevel marketing business by selling its 60 percent stake in Younique, which it bought in 2017, back to the company’s other shareholders.  In an interview on Wednesday morning, Terisse said shedding Younique will allow Coty to focus its energies on the other business units.  “Younique has been facing its own cycles, let’s put it this way, which is the multilayer marketing business goes through rapid expansion and then often a phase of stabilization or decline before it can grow again,” Terisse said. “We’ve been in this phase of decline for the past few quarters now. This needs to be addressed, and the current management team has the competence, and on one end, we need to focus on our business. We have businesses with strong issues…but also strong opportunities. Luxury’s growing fast — we need to continue fueling it.” According to Citi analyst Wendy Nicholson, Younique had $358 million in sales for fiscal 2019, making up about 4 percent of total Coty sales and 10 percent of Consumer division sales. “While Younique had grown

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