Coty taking over StarAsia
Coty Inc, an emerging global leader in beauty products, is taking over StarAsia, an established distributor of such products in Southeast Asia, from its parent, Isibane.
“The acquisition of StarAsia provides us with an established distribution platform to sell our mass brands in key developing markets in the Southeast Asia region,” chief executive officer Michele Scannavini said. The transaction is expected to close this summer.
The management team of StarAsia will continue to lead the development of Coty’s business in Cambodia, Hong Kong, Indonesia, Malaysia, Singapore, Taiwan and Vietnam.
“StarAsia has succeeded in building a leading regional platform with operations in seven countries [or territories] in Asia and a strong track record of growth,” said Noe Saglio, CEO of StarAsia.
“We are delighted to become part of the Coty family, having been a business partner for more than 10 years. Our multicultural organisation combines international experience with local know-how, and I am confident that our talented team will fit in very well at Coty. We look forward to building on our leading market position under Coty’s ownership.”
Coty reported revenue of US$4.6 billion (Bt138 billion) for the fiscal year ended June 30, 2012. Founded in Paris in 1904, Coty has a portfolio of well-known fragrances, colour cosmetics and skin- and body-care products sold in more than 130 countries and territories.
Coty’s product offerings include such global brands as Adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, Philosophy, Playboy, Rimmel and Sally Hansen.
StarAsia, founded in 2001 by Frederic Cassin, is a leading regional independent distributor of beauty personal-care brands in fragrances and toiletries and in cosmetics and skincare.
