Coty postpones IPO

Published: 11-Sep-2012
Finance

Provides time for new ceo to adjust to role


Having filed for an initial public offering (IPO) in June, in the hope of raising up to $700m, Coty Inc is now delaying its plans until 2013.

The decision comes not long after the company named Michele Scannavini as its new ceo and it is thought that Coty’s postponement of the IPO is partly to provide Scannavini time to adjust to the role.

Recent cautious sales guidance by Estée Lauder and L’Oréal amid a market slowdown in North America and Europe may also have influenced Coty’s decision.

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