Coty aims to raise $700m

Published: 23-May-2013
Finance

Group is looking to accelerate current growth through new investment


Coty Inc, which has just acquired southeast Asian beauty products group StarAsia and signed a joint venture with Frajo of Brazil, is to apply for a stock exchange listing on Wall Street to raise $700m of new capital. The aim is to accelerate current growth through new investment.

The group has started to acquire a number of enterprises in Asia and expand in skin care creams as a counterweight to its heavy orientation towards perfumery. Last year it failed to acquire Avon but revealed the extent of its ambition in the process.

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