Coty Inc. Will Aquire OPI

By Lauren Salapatek | 11/30/2010 9:05:08 AM

 

Coty Inc. and OPI Products Inc. announced yesterday that Coty has entered into an agreement to acquire OPI. The acquisition will enhance Coty's color cosmetic portfolio, through the addition of over 200 fashion forward colors of OPI Nail Lacquer's chip-resisitent formula.

"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," says Bernd Beetz, CEO of Coty Inc. "This acquisition will allow Coty to expand our presence in the nail care category via an important new channel of distribution: professional salons."

"It's time for a new era at OPI, and together with Coty we can begin this new journey," says George Schaeffer, president and CEO of OPI Products Inc. "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."

Currently Coty Inc. has achieved a leadership position in fragrance and has quickly emerged as a global leader in beauty. Today it is considered a large fragrance company with sales of nearly $4 billion for the year (ending June 30, 2009).

For more information about Coty Inc. visit: www.coty.com
For more information about OPI Products Inc. visit: www.opi.com

 

 

 

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ABOUT THE AUTHOR: Lauren Salapatek

Lauren Salapatek Lauren Salapatek, Web Editor for Modern Salon | Salon Today | First Chair.

(Previous positions: Associate Editor/E-Newsletter Content Production Manager)

Since January 2010, Lauren has worked for Modern Salon Media covering salon style, product and beauty trends, and business editorial for both print and online content. As of October 2013, Lauren’s role changed to Web Editor—now she manages all online editorial content for modernsalon.com, salontoday.com and firstchair.com. As part of her responsibilities, she creates, edits, organizes and curates content for all Modern Salon Media’s websites; manages the creation and production of all Salon e-newsletters; promotes Modern Salon Media’s digital content via several social media accounts (Facebook, Twitter, Pinterest); and maintains an editorial calendar to keep all Modern Salon Media’s websites timely and current.

You can find Lauren on Google+ or e-mail her at lsalapatek@modernsalon.com.

 


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