Coty to gain professional foothold with OPI acquisition
Global beauty player extends colour portfolio
"We view the acquisition of OPI as complementary to Coty and a natural extension of our strategy to offer a unique portfolio of brands that produce some of the best known consumer products around the world," said Bernd Beetz, ceo, Coty Inc. "OPI is both dynamic and high quality and has earned its place as a leading provider to professional nail care salons. This acquisition will allow Coty to expand our presence in the nail care category via an important new channel of distribution: professional salons, and importantly will offer an even greater selection of products and choice to consumers."
"OPI has gained a place in consumer's minds in the US and internationally," added Renato Semerari, president, Coty Beauty. "It is one of THE fashion brands in nail colour for salons and that is a very unique position to be in”
George Schaeffer, president and ceo of OPI Products Inc commented: "It's time for a new era at OPI, and together with Coty we can begin this new journey. For almost 30 years, we have built a solid foundation of innovation and excellence. We are confident that by joining Coty, this legacy will continue and be strengthened. Our management team will continue on with the company and OPI's business strategy will remain focused on the salon professional."
"OPI has a reputation for creating fashion forward products that make women feel beautiful and Coty is a well established trend setter in the beauty industry," said Suzi Weiss-Fischmann, executive vp & artistic director of OPI Products Inc. "Together we will continue to push the envelope in beauty, colour and trends."
A world leader in professional nail care since 1981, and a regular favourite with salons and celebrities, OPI Nail Lacquer is currently available in over 200 shades. OPI also has an complete range of products for hands, feet, and nails and holds over 30 patents for product ideas.
Financial terms of the transaction have not been disclosed and the transaction is subject to customary regulatory approvals.
This month has already seen the announcement of acquisitions by Coty of premium skin care company philosophy, of Dr Scheller, which includes Manhattan and Manhattan Clearface, and the announcement of a colour collaboration with Calvin Klein Inc to develop and market a full make-up line, due to launch in 2012. Coty’s colour portfolio already includes Rimmel, Astor, Esprit and Sally Hansen
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