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NEW YORK — Revlon Inc. has acquired Coty Inc.’s international businesses for nail care brand Cutex.
Financial terms of the deal weren’t disclosed. Revlon said Monday that with the transaction, it has completed the global consolidation of the Cutex brand’s worldwide operations under Revlon management. The businesses acquired operate mainly in Australia and the United Kingdom.
With the move, Revlon noted that it’s now positioned to bolster the Cutex brand by redesigning its current nail care products to enhance consumer appeal and by expanding the Cutex lineup into additional categories.
“Cutex has been a consistent source of innovation, from its invention of liquid nail polish in 1917 to its popular nail polish removers widely used today,” stated Gianni Pieraccioni, executive vice president and chief operating officer of Revlon. “With this acquisition, Revlon continues to enhance our global brand portfolio, and it provides us with a springboard to grow the Cutex brand worldwide. We are excited to complete the global consolidation of the Cutex brand, as this will enable us to optimize the brand’s full potential.”
Cutex’s roster nail polish remover products includes liquid nail polish removers, nail polish remover pads, jar nail polish removers and gel polish removers.
“As recently announced, Coty aims to rationalize its portfolio by focusing on fewer brands to drive a higher-growth and better-quality business, transforming Coty into a new global leader and challenger in the beauty industry,” commented Patrice de Talhouët, executive vice president and chief financial officer at Coty. “Coty’s sale of these Cutex businesses is another step towards our strategy. Coty will continue to drive its leadership in the consumer and salon nail category as a key part of its growth strategy. However, the Cutex business was not a focus brand for Coty.”
