Coty Doubles Down on Fragrance, Explores Sale of CoverGirl and Rimmel

As first reported in June 2025, Coty is restructuring to focus on its fragrance business, which accounts for 69% of its sales. To achieve this, the company will more closely integrate its prestige beauty and mass fragrance divisions to leverage its scale in R&D, manufacturing, and distribution. Key points:

• Strategic Review: Coty has launched a strategic review of its Consumer Beauty division, specifically its $1.2 billion mass color cosmetics business (including CoverGirl and Rimmel) and its $400 million Brazil business. The review will consider options like partnerships, divestitures or spin-offs.
• Leadership Changes: Gordon von Bretten has been appointed president of Consumer Beauty to lead this division and the strategic review. As a result, Stefano Curti (chief brands officer) and Alexis Vaganay (chief commercial officer) are stepping down.
• Financial Advisor: Coty has hired Citi to advise on the strategic review.

“This next phase of our transformation is about clarity and focus,” said Sue Nabi, CEO of Coty. “By more closely integrating all our fragrance and scenting brands, we unlock the full power of our scale. The fragrance category continues to outperform the global beauty market and already drives the majority of our revenues and profits. Coty has a proven right to win at all price points of scenting, from $5 to $500, and is already making strong headway in the exciting new $7 billion mist market.”

Nabi added, “This new structure will also drive renewed momentum and sharper focus for Consumer Beauty, positioning it to compete more effectively in the evolving beauty landscape. We have asked Gordon von Bretten, Coty board member and former chief transformation officer, to lead Consumer Beauty as president, reporting to me. Mr. von Bretten will have end-to-end responsibility for delivering the full potential of our strong brands in the mass cosmetics, mass skin and personal care businesses. He will also lead the strategic review and join Coty’s executive committee.”

“We are taking decisive steps on Consumer Beauty and I am honored to lead this next phase of value creation together with Ms. Nabi,” said von Bretten. “Our agenda is clear: realize the full potential of our market-leading brands by focusing the portfolio, elevating product excellence, and driving productivity with discipline so that performance is visible in growth, margin expansion, and cash generation.”