Public scrutiny is upping pressure on cosmetics giant Coty. Coty is readying itself for an investor roadshow as it prepares its Initial Public Offering (IPO) and stock market debut.
Supported by Morgan Stanley and JPMorgan Chase, Coty is in need of investor support if it is to break into Asian markets. Boss Michele Scannavini is well aware of the need for more skin care bolstering, especially in Asia where skin care represents more than 60% of the overall beauty market, as well as the pressure to take on rivals such as L’Oréal and P&G, hence the IPO.
Despite this, the IPO has also underlined Coty’s recent acquisition programme: two buys, TJoy and Philosophy. Meanwhile, an IPO should raise around $700m for Coty; the US stock market recently hit record highs with Dow Jones breaching the 15,000 mark recently.