PRN: Coty Inc. Creates New Geneva Flagship Offices to Support Global Headquarters Collaboration and Growth
Coty Inc. Creates New Geneva Flagship Offices to Support Global Headquarters Collaboration and Growth
GENEVA, April 2, 2012 /PRNewswire/ --
Coty Inc., a leading global beauty company, today announced the opening of a new corporate facility near Geneva, Switzerland. Â The flagship offices, located in Versoix (Canton Geneva), will complement Coty headquarters activities in New York, US, and Paris, France.Â
With a goal of further developing cross-divisional and joint headquarters collaboration among Coty professionals, the Geneva office forms a third component in Coty's corporate headquarters structure.Â It includes a state-of-the-art Research and Development group linked to a Fragrance Center of Excellence, global and regional commercial teams for Coty Beauty and Coty Prestige divisions, procurement and supply chain operations, and a regional Northern European finance center.Â
"Creating a third headquarters in Geneva shows Coty's commitment to being a truly global emerging leader in beauty," said Bernd Beetz, Chief Executive Officer of Coty. "Our talented people take collaboration seriously, whether working across divisions or borders."
The new center in Versoix will take a lead in developing stronger relationships with its most important fragrance suppliers.Â It will also support Coty marketing and new product development teams in London, New York, and Paris, in addition to supporting manufacturing centers in Monaco, Spain, and the United States.
"Geneva has become a highly important location to enhance Coty's corporate activities as we realize our vision for the future," said Peter Shaefer, Coty's Senior Vice President of Strategic Business Development, who also will serve as President of the Board of Directors for Coty Switzerland.
The new office brings to three the number of Coty's principal corporate locations globally, after Paris and New York. Â In Versoix the offices occupy a full floor of 3,220 square meters in a classic former paper factory on chemin de la Papeterie. Â It is initially expected to welcome almost 150 employees.Â
"I am pleased to be able to bring together our scientific teams into one dynamic state-of-the art laboratory to promote knowledge sharing and research that will fuel Coty's innovation," said Ralph Macchio, Coty's Senior Vice President and Chief Scientific Officer. Â "Being close to our valued partners is an additional benefit Geneva offers."
Coty's recent history in Geneva dates back to its acquisition of UCI in 2005, which gave it a strong presence in the prestige fragrance market. Â Since the purchase, Coty has turned Calvin Klein and Chloe into fragrances that lead in market share growth.
Geneva will continue to host Coty's worldwide travel retail business and the European oversight of various commercial activities.Â Additional functions at the new office will also include internal corporate activities to support the company's two principal operating divisions, Coty Beauty and Coty Prestige. Coty's decision to invest further in Geneva was also guided by its international location, qualified workforce and a goal to balance business travel required of its professionals.Â Â Â
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 $4.1 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 135 markets worldwide.Â
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, Gwen Stefani, Lancaster, Marc Jacobs, Nikos, philosophy, Roberto Cavalli, Sarah Jessica Parker, Truth or Dare by Madonna, 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, Elite Models, Esprit, Exclamation, Faith Hill, GUESS?, Halle Berry, Heidi Klum, Jovan, Kate Moss, Kylie Minogue, Lady Gaga, Manhattan, Manhattan Clearface, Miss Sporty, Nautica, N.Y.C. New York Color, Nicole by OPI, OPI, Pierre Cardin(1), Playboy, Rimmel, Sally Hansen, Stetson, Tim McGraw, TJoy and Tonino Lamborghini.
Coty and Puig S.L. have a strategic partnership for the distribution of the perfume lines of Antonio Banderas, Carolina Herrera, Nina Ricci,Â Paco Rabanne, Prada, Shakira and Valentino in the United States and Canada.
For additional information about Coty Inc., please visit http://www.coty.com.
(1) Not available in North AmericaÂ