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Coty is reportedly set to delay the sale of its initial public offering (IPO) to early 2013. The beauty company initially filed for the IPO in June and was seeking to raise as much as $700 million for the offering.
According to BusinessWeek, the push will give new Coty CEO Michele Scannavini more time to settle into the role he took over from Bernd Beetz as of August 1. Coty has sought to increase revenue by entering new regions and expanding distribution of its brands in emerging markets.