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Coty Inc. Announces the Opening of Russian Subsidiary

2009-07-09 03:43 963

Business Venture Establishes Direct Product Marketing Control and Strengthens Coty's Global Presence

NEW YORK, July 9 /PRNewswire-Asia/ -- Coty Inc., a leader in the global beauty industry, today announced the opening of Coty's new Russian subsidiary. The opening of Coty's Russia office, located in Moscow, is a strategic initiative for establishing direct in-house marketing control of the Coty products in Russia.

The sustained success of Russia's nearly $8 billion cosmetics and toiletries industry positions the country as a key emerging market and priority expansion opportunity for Coty.

"The opening of Coty's Russian subsidiary provides Coty with a competitive in-market edge to advance our sales and build business partnerships while simultaneously strengthening our global presence in the beauty industry," commented Coty Chief Executive Officer Bernd Beetz. "Coty's Russia team will leverage existing relationships and establish new partnerships with distributors in Russia and related markets to deliver the highest quality products to consumers."

Prior to the establishment of this Russian office, Coty products were sold in Russia through multiple distribution partnerships.

Coty CEO Bernd Beetz has named former Beauty & Co. General Manager and Commercial Director Roman Terekhov as General Director of the new Russian subsidiary. Terekhov will be responsible for Coty's day-to-day operations in Russia, overseeing 60 employees within the marketing, sales, supply chain, and finance and information technology divisions.

"Roman's extensive industry knowledge, especially of the Russian market, and extensive business experience make him an outstanding addition to the Coty family," added Beetz.

Effective immediately, the new subsidiary will manage the marketing, sales and distribution of select Coty products, including Rimmel color cosmetics, adidas personal care products, Lancaster skin and sun care products and Calvin Klein, Celine Dion, Cerruti, Chloe, Chopard, David Beckham, Davidoff, Esprit, Jil Sander and Marc Jacobs fragrances.

Coty's Russia office is located at 69, Sadovnicheskaya Emb., Moscow.

About Coty Inc.

Coty was created in Paris in 1904 by Francois Coty, who is credited with founding the modern fragrance industry.

Today, Coty Inc. is a recognized leader in global beauty with annual net sales of nearly $4 billion. Driven by an entrepreneurial spirit, passion, innovation and creativity, Coty Inc. has developed an unrivaled portfolio of notable brands and delivers its innovative products to consumers in 90 markets worldwide.

The Coty Prestige brand portfolio is distributed in prestige and ultra-prestige stores and includes Baby Phat, Balenciaga, Calvin Klein, Cerruti, Chloe, Chopard, Davidoff, Home Skin Lab, Jennifer Lopez, Jette Joop, Jil Sander, JOOP!, Karl Lagerfeld, Kenneth Cole, L.A.M.B. fragrance by Gwen Stefani, La Voce by Renee Fleming, Lancaster, Marc Jacobs, Nautica, Nikos, Phat Farm, Sarah Jessica Parker, Vera Wang, Vivienne Westwood and Wolfgang Joop.

The Coty Beauty brand portfolio is more widely distributed and includes adidas, Astor, Celine Dion, Chupa Chups, David and Victoria Beckham, Esprit, Exclamation, Faith Hill, Halle Berry, Jovan, Kate Moss, Kylie Minogue, La Cross, Miss Sixty, Miss Sporty, N.Y.C. New York Color, Pierre Cardin(1), Playboy, Rimmel, Sally Hansen, Shania Twain, Stetson, Tim McGraw and Tonino Lamborghini.

Coty and Puig Fashion and Beauty S.A. have a strategic partnership for the distribution of the perfume lines of Nina Ricci, Carolina Herrera, Prada, Paco Rabanne and Antonio Banderas in the United States and Canada.

For additional information about Coty Inc., please visit http://www.coty.com.

(1) Not available in North America

Source: Coty Inc.
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