As expected, Coty bought OPI Monday making OPI perhaps the most valuable company in the history of the pro beauty industry. L’Oreal bought MATRIX and Redken for a mere percentage of what Coty paid for OPI.
Coty which owns Sally Hansen and Rimmel among its brands is also a worldwide leader in fragrances. The information below is from their website:
Today, Coty is the world’s largest fragrance company, and a global leader in the beauty industry. After more than one hundred years in the business, Coty continues to draw on the creative, entrepreneurial and visionary legacy of its founder and, more recently Bernd Beetz, Chief Executive Officer of Coty Inc. Both visionaries have dramatically shaped and re-shaped the future of the company and the beauty industry itself.
Less than a week of acquiring OPI, they also bought Philosophy, known for their holiday lotions and potions. Plus they announced they are making yet another acquisition. WOW is all I can say.
But in the meantime, OPI is the story of the year. In a press release sent by Coty and George Schaeffer, the common thread was “that if isn’t broken, then there is nothing to fix.” With that said, OPI will continue to be the industry leader in the pro nail category and the entire management team is staying on including George.
This is good news indeed. Coty already owns the majority of the nail business in mass retail and now they have the dominant position in professional salons and spas. They have the vision and celebrity names to make OPI even a bigger player and surely they paid a premium knowing what an asset they bought.
The bottom line is that it’s business as usual. With George and the management team staying on, we know the integrity and brand proposition will remain intact and Coty’s influence will only enhance it.
I’m excited and await the new opportunities. In the meantime, congratulations to George, Suzi and Miriam from taking a dental supply company into a global giant and selling to a company that understands their vision and will take it to the next level.
Happy Wednesday!
“If isn’t broken, then there is nothing to fix.”
In moderation, this may be good advise to follow. However, if CND had followed this mantra we wouldn’t have Shellac (and TNG wouldn’t have expanded to Texas). Change can be risky, but stagnation will lose every time.
While some girls have shoes or purses as their addiction, this is mine. I LOOOOVVVEE perfume. I’m a total sucker for packaging and advertising of a perfume. I have about 10 for each individual mood, haha. Nothing beats the feeling of someone stopping you and saying “Oh my goodness, what is that you’re wearing? You smell amazing!” Instant ego boost 🙂
Katharine i have to agree!
I love when someone asks me what perfume i am wearing.
But my favorite is DG “Light Blue”
I always want to shop for perfume because I love the different scents. I am proud to say that I have at least 250 different perfumes. you can never have enough and they always come out with new one. I was so excited and happy when we started carrying perfumes, now we must do something for our men and carry cologne so they can smell good also.
Thank you for clearing up my OPI question! I was starting to wonder why Suzi was getting around on the OPI circut!! Shes selling Sushi by the sea shore, shes skiing in the Pyrenees, she says feng shui, shes a chocoholic and now she loves cowboys! Phew!! : )