Coty (NYSE: COTY) is a publicly listed company headquartered in New York, United States that owns 5 consumer brands, and has 1 recorded transaction.[1]
Coty was founded in Paris in 1904 by François Coty, who is credited with creating the modern perfume industry by combining natural and synthetic materials and selling scent in decorative bottles at accessible prices. It is now one of the largest fragrance licensors in the world and owns Rimmel and CoverGirl.
Procter & Gamble transferred 41 beauty brands, including CoverGirl, Max Factor, Clairol and Wella, to Coty in a Reverse Morris Trust structured to be tax-efficient for P&G shareholders. It was the largest single step in P&G's programme of cutting its portfolio from about 170 brands to 65.