Coty and Puig to end distribution deal
Marks the end of a six year partnership
US beauty giant Coty has decided not to renew its North American distribution agreement with Spanish beauty house Puig, which expires 30 June 2013. This decision, said to be an “amicable end to a six-year partnership” will see Coty Prestige assume selling responsibility for the Coty Beauty brands that are distributed in prestige retailers, which are currently sold by a third party distributor.
“After the strong and collaborative partnership Coty has enjoyed with Puig over the past six years, we are now at the stage where we need to fully focus on our own portfolio, which has grown bigger and stronger over the past years,” said Michele Scannavini, CEO, Coty Inc. “We are all proud of the great work we’ve done and results achieved with the Puig business, and we wish the company continued success in the future.”
Marc Puig, Chairman and CEO of Puig added: “Puig is very appreciative of the support and the very positive results of the collaboration with Coty in the US and Canada over the past years. Our business has more than doubled during this period. As a result the time has come for Puig to redefine a new approach to pursue growth in the North American markets.”
