COTY INC. TO ACQUIRE OPI PRODUCTS INC.
Coty Adds OPI Nail Lacquers and Nicole by OPI to Its Growing Color Portfolio
NEW YORK, November 29, 2010 — Coty Inc., a leading global beauty company, and OPI Products Inc., a leader in professional nail salon products, today announced that Coty has entered into an agreement to acquire OPI.
The acquisition will enhance Coty's color cosmetic portfolio, through the addition of over 200 fashion forward colors of OPI Nail Lacquer's chip-resistant formula, which has been an international success. "We view the acquisition of OPI as complementary to Coty and a natural extension of our strategy to offer a unique portfolio of brands that produce some of the best known consumer products around the world," said Bernd Beetz, CEO, Coty Inc. "OPI is both dynamic and high quality and has earned its place as a leading provider to professional nail care salons. This acquisition will allow Coty to expand our presence in the nail care category via an important new channel of distribution: professional salons, and importantly will offer an even greater selection of products and choice to consumers."
"We are very excited about having OPI join the Coty family. OPI has gained a place in consumer's minds in the US and internationally," said Renato Semerari, President, Coty Beauty. "It is one of THE fashion brands in Nail Color for salons and that is a very unique position to be in. OPI's success is the result of a very focused and high quality effort by the OPI team over the past decades. We are very excited to join forces with such a talented team to strengthen OPI even further in the future."
"It's time for a new era at OPI, and together with Coty we can begin this new journey," said George Schaeffer, President and CEO of OPI Products Inc. "For almost 30 years, we have built a solid foundation of innovation and excellence. We are confident that by joining Coty, this legacy will continue and be strengthened. We are all excited about the next phase of opportunity for OPI. Our management team will continue on with the company and OPI's business strategy will remain focused on the salon professional."
"OPI has a reputation for creating fashion-forward products that make women feel beautiful and Coty is a well established trend setter in the beauty industry," said Suzi Weiss-Fischmann, the Executive VP & Artistic Director of OPI Products, Inc. "Together we will continue to push the envelope in beauty, color and trends."
Financial terms of the transaction were not disclosed. The transaction is also subject to customary regulatory approvals.
Moelis & Company served as financial advisor to Coty in connection with the transaction. Lazard Freres & Co. LLC acted as financial advisor to OPI. Gibson, Dunn & Crutcher LLP served as legal advisor to Coty in the transaction. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to OPI.
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 markets worldwide. The Coty Prestige brand portfolio is distributed in prestige and ultra-prestige stores and includes Balenciaga, Bottega Veneta, Calvin Klein, Cerruti, Chloé, 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, Beyoncé 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 Cardin1 , 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 www.coty.com.
(1) Not available in North America
About OPI Products Inc.
OPI Products Inc., one of the world’s leaders in professional nail care since 1981, has revolutionized the beauty industry by combining leading-edge innovation with trendsetting, fashion-forward colors. Under the leadership of OPI President & CEO George Schaeffer and Executive VP & Artistic Director Suzi Weiss-Fischmann, beautifully manicured nails are now seen as the essential fashion accessory. Preferred by salon professionals and favored by red-carpet celebrities, OPI Nail Lacquer is currently available in 200+ shades. OPI Nail Lacquers contain no DBP, Toluene, or Formaldehyde, and feature a patented Lacquer bottle, ergonomic cap, and ProWide® Brush designed for flawless application. In addition to Nail Lacquer, OPI also offers an entire range of state-of-the-art quality products for hands, feet, and nails – with more than 30 Patents for the company’s innovative product ideas. OPI has had a number of successful partnerships, including CW Network, DELL, DreamWorks Animation SKG, Inc., Justin Bieber, Katy Perry, Kristi Yamaguchi, Serena Williams, Sony Pictures Screen Gems, Susan G. Komen for the Cure®, Walt Disney Pictures, and Warner Home Video.
For more information, call 800.341.9999 or visit www.opi.com
Okay. Krystal talking. So there has been MAJOR Internet uproar over this because "Coty tests on animals." Now, every time I hear this phrase, I roll my eyes a little. When Facebook applications first started in spring of 2007, I had the unique opportunity to help on one of the applications, and it ended up being wildly successful early on. That's when the rumors started. I couldn't BELIEVE some of the things I saw being written about myself and the company I was working for. The rumors only got worse when my game was purchased by a larger company. I mean, really, some of the rumors were ranging from interesting to "What on earth is WRONG with people?" So when ever I hear Internet rumors about another company, I know what it's like to have been on the other side of that coin and how MOST of what I heard about MY company was completely fake, false, made up and just Internet rumor.
So today I decided to learn about Coty. I had never even heard of this company before the OPI acquisition, despite how many very famous brands they carry. I was specifically looking as to what does Coty say about animal testing?
I didn't even spend five minutes before I found my answer. Plain as day, under their "Product Safety" page: http://www.coty.com/#/citizenship/product_safety
We share our consumers' respect for life, and therefore are committed to maintaining the highest possible standards of human safety while eliminating the need for testing on animals. Coty's safety testing policy requires that we meet or exceed all governmental safety laws in each of the 90+ markets in which our products are sold.
Okay really? All this uproar and craziness and the company flat out says they aren't testing on animals?! SERIOUSLY?
So I was thinking okay, let me at least CHECK where people are getting their information that Coty is apparently an animal testing company...
Simple Google - "Coty animal testing" - not hard here. In fact, click on those words there because I love the LMGTFY website. ^_^
First result: http://www.uncaged.co.uk/crueltyfree.htm
This page was updated in June 2010, which makes me feel at least decent about the information even if it is almost 6 months old. Coty is listed as a bad company BUT it's NOT because they have been proven to animal test... it's because they didn't provide THIS WEBSITE with Coty's policy. I don't know when Coty added the above quoted message to their website, but it must have been after June 2010. So frankly, this isn't FACT, this is an outdated opinion to me.
Second result: http://www.ethicalbeauty.com/animal-testing.html
No date on this page, so there's no telling how old the information is, but Coty is NOT listed as a "bad" company, they are listed as "questionable". When I clicked on the word "Questionable" I was taken to this website http://www.navs.org/site/PageServer?pagename=ain_pt_whois which also said "Questionable" when I entered Coty in the search text box. That doesn't mean that they are a tester, it means that someone didn't get the above information. Again.
Third result: http://lazybeautiful.wordpress.com/2010/05/27/rimmel-london-coty-inc-animal-testing-statement/
Now this is a blog that an official statement from Coty which states flat out "Coty Inc, does not test on animals." Need I say more?
Fourth result: Dead link - bad Google.
Fifth result: http://en.allexperts.com/q/Animal-Rights-2716/Animal-testing-cosmetics.htm
I am not familiar with this website at all, but it looks like a question and answer type website. Coty is listed as testing on animals but if you look at the top of the page, the only date listed is for 5/30/2002. That's very outdated information. And here I thought "Oh, 6 months is bad."
So please, stop the rumors, stop the nonsense. Do your research! If you are going to boycott someone or something, do it because you did your research and you believe in your results.