After recently bagging the licence for Calvin Klein colour cosmetics, the leading Paris-based fragrance and beauty products manufacturer, Coty, Inc, has further beefed up its colour cosmetics portfolio by acquiring Germany-based, Dr Scheller Cosmetics AG (DSC). Coty has bought
Dr Scheller Cosmetics from Kalina, the Russian beauty company.
Coty said this acquisition will grow its market share in Germany, a key area for the company, from seven percent to 17 percent, making it the second biggest player in colour cosmetics in Germany, just behind L’Oréal. Although Coty did not disclose the terms of the deal, nor did it break out the sales figures, industry sources estimate that the German brand does roughly $70 million at wholesale.
“The acquisition of Dr Scheller Cosmetics is a natural extension of our strategy to offer a well-balanced portfolio of brands, representing some of the leading consumer products in Germany. Their well-established brand, high-quality products, market presence and loyal consumers will complement and add value to Coty’s existing offerings,” stated Bernd Beetz, Chief Executive Officer, Coty Inc.
Posted on: 17.11.2010
Source: www.wwd.com
