Beauty giant Coty is considering plans to list itself on the Paris Stock Exchange — a move that could help the company bolster its position in the European market by expanding its reach and tapping new investors.
The company is already listed on the New York Stock Exchange (NYSE) and has a market cap of $10.35 billion.
Coty’s plan to list itself in Paris underpins its century-long heritage in France, a country that is an epicenter for beauty innovation and investment.
“We have seen consistent growth over the last ten quarters, in line with or ahead of market expectations, underpinned by targeted investment, disciplined cost controls and a clear debt reduction program,” said Coty’s Chairman Peter Harf.
The news comes at a time when the company is in a strong financial position under CEO Sue Nabi’s leadership, with $400 million in free cash flow in fiscal year 2023.
Considering the company’s strong position, Coty has extended Nabi’s contract, anchoring it in a long-term equity program that will run through 2030.
“As a long-term shareholder in the company, I am grateful to the board for their continued support and trust, and delighted to have the opportunity of leading Coty through this next chapter of growth and value creation,” Nabi said.
“We are committed to driving sustainable innovation across fragrance, color cosmetics and skincare as we rise to meet the consumer needs of the future while simultaneously campaigning to change outdated definitions of beauty through the #undefinebeauty campaign.”
Photo credit: SKKN
