Coty has terminated its licence with ultra-premium French biotech skin care brand Orveda.
The beauty giant has ended its licence agreement with Orevda after just four years, with the news being revealed during Coty’s latest earnings presentation last week.
The move is part of Interim CEO Markus Strobel’s new strategic framework – ‘Coty. Curated’ – which aims to sharpen priorities, boost sales and reflect an increased discipline across the business.
A Coty spokesperson told Cosmetics Business: “Given our focus on scale, reach and profitability, we have made the decision to end our licence with the Orveda skin care brand.”
Orveda was established by former Coty CEO Sue Nabi and executive Nicolas Vu in 2014, with the aim to be a genderless skin care brand anchored in microbiome science.
Made in France, Orveda is said to combine cutting-edge biotechnology with dermatological benefits to help consumers achieve a healthy skin glow.
When Nabi joined Coty as CEO in 2020, she no longer had an ‘ownership interest’ in the business, or any formal role at the company.
In 2021, Orevda signed its licence agreement with Coty.
