“The coronavirus-induced closure of stores and parlors hammered demand for [Coty’s] beauty products” in the fourth quarter.
The investment is the first step toward a broader deal under which KKR would acquire 60% of Coty's professional beauty and hair care business.
Natura Cosméticos "believes it can revive the fortunes of the company historically known for its doorstep Avon Lady sellers."
The cosmetics company posted breakeven earnings per share and sales fell year-over-year.
The beauty company's new CEO says it is implementing "near-term fixes" and "moving with deliberate urgency to design our turnaround plan."
The company posted “continuing declines across several beauty categories within the U.S. mass retail channel" in Q4.
The acquisition of the maker of quirky cosmetics is expected to elevate Estee Lauder's profile among millenial consumers.
The struggling cosmetics company postponed an investor meeting, sparking rumors of a major strategic move.
