Coty Inc. Announces Strategic Investment in TJoy Holdings, LtdBy Coty Inc., PRNE
Saturday, December 4, 2010
Coty Adds Popular Chinese Brands to Its Growing Skin Care Portfolio
NEW YORK, December 6, 2010 - Coty Inc., a recognized leader in global beauty, and TJoy, a top Chinese
skin care company, today announced that the two companies have entered into a
share purchase agreement which calls for Coty to acquire a majority stake in
TJoy Holdings, Ltd, a Cayman Islands Company. Coty and TJoy anticipate
closing the share purchase in January 2011. Coty's strategic investment
extends its skin care business by providing it with a solid foothold in China
through TJoy's existing distribution channels, and also gives Coty a platform
to expand its R&D capabilities.
The addition of the TJoy and Pure Plant Extract brands further
strengthens Coty's current skin care portfolio, which includes leading skin
care brand Lancaster and philosophy, Inc. Since its launch in 1995, the TJoy
product line has established incredibly strong brand recognition in the
Chinese market while maintaining a distinctive brand image that will be
further strengthened with the new Coty involvement.
"The TJoy investment positions Coty as a major player in China,
solidifying our position as a global beauty leader. TJoy and Pure Plant
Extract are sublime additions to the Coty skincare portfolio, and only make
our portfolio stronger," said Bernd Beetz, CEO, Coty Inc. "We are excited by
this investment in TJoy and look forward to welcoming the TJoy employees into
the worldwide Coty family."
Mr. Chuang Wen Yang, Chairman and Founder of TJoy, said, "The combination
of TJoy and Coty is an important milestone for TJoy and is a 'win-win'
situation for everyone. I am very confident that our combined businesses will
enjoy rapid growth through Coty's global reach and marketing expertise. And
together, our brands will continue to achieve great things."
The combined company will accelerate the growth of popular Coty products,
including adidas and Rimmel, as well as strengthen Coty's innovative pipeline
of products by furthering its presence in the Chinese market.
Financial terms of the transaction were not disclosed.
Coty, which employs more than 8,500 people worldwide, ended its 2010
fiscal year with net sales of $3.6 billion, up 3 percent from the 2009 fiscal
About Coty Inc.
Coty was created in Paris in 1904 by Francois Coty who is credited with
founding the modern fragrance industry.
Today, Coty Inc. is a recognized leader in global beauty with annual net
sales of nearly $4 billion. Driven by an entrepreneurial spirit, passion,
innovation and creativity, Coty Inc. has developed an unrivaled portfolio of
notable brands and delivers its innovative products to consumers in 90
The Coty Prestige brand portfolio is distributed in prestige and
ultra-prestige stores and includes Balenciaga, Bottega Veneta, Calvin Klein,
Cerruti, Chloe, Chopard, Davidoff, Jennifer Lopez, Jil Sander, JOOP!, Karl
Lagerfeld, Kenneth Cole, L.A.M.B. fragrance by Gwen Stefani, La Voce by Renee
Fleming , Lancaster, Marc Jacobs, Nikos, Sarah Jessica Parker, Vera Wang,
Vivienne Westwood and Wolfgang Joop.
The Coty Beauty brand portfolio is more widely distributed and includes
adidas, ASTOR, Baby Phat, Beyonce Knowles, Celine Dion, Chupa Chups, David
and Victoria Beckham, Esprit, Exclamation, Faith Hill, GUESS, Halle Berry,
Jovan, Kate Moss, Kylie Minogue, La Cross, Lady Gaga, Miss Sporty, Nautica,
N.Y.C. New York Color, Pierre Cardin(1) , Playboy, Rimmel, Sally Hansen,
Stetson, Tim McGraw, and Tonino Lamborghini.
Coty and Puig Fashion and Beauty S.A. have a strategic partnership for
the distribution of the perfume lines of Nina Ricci, Carolina Herrera, Prada,
Paco Rabanne, and Antonio Banderas in the United States and Canada.
For additional information about Coty Inc., please visit
(1) Not available in North America
TJoy was established in 1995 and headquartered in Suzhou, China. It has 4
manufacturing plants across China and owns a series of famous skin care
brands include TJoy and Pure Plant Extract.
As one of the leading skin care brands in China, TJoy features a
comprehensive product portfolio features whitening, cleanser, sun care,
lotion and cream.
Eric Fu of Fleishman-Hillard, +8621-6407-0066, Eric.Fu at fleishman.com, for Coty Inc. (China); or Lindsay Wooten of Fleishman-Hillard, +1-202-828-8829, Lindsay.wooten at fleishman.com, for Coty Inc. (US)
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