Coty manufactures and markets products under the brands Alexander McQueen, Guess, Londa, Adidas, Balenciaga, Chlo, Davidoff, Gucci, Hugo Boss, Kylie Skin, Marc Jacobs, Bottega Veneta, Burberry, Calvin Klein , Miu Miu, Tiffany & Co.
French-American cosmetics company Coty has announced the termination of its activities in the Russian market. About this writes Reuters with reference to the company’s statement.
As you know, Coty makes and sells products under 80 brands. These include Max Factor, Rimmel and CoverGirl.
In 2021, Russia will account for just over 3% of brand sales. Total sales then reached 4.63 billion dollars.
Thus, the company does not expect that this move will affect its revenue and profit targets for the current financial year.
It will be recalled that earlier the Auchan management decided to separate its branch in Russia. In particular, the main office stopped chain deliveries and investments in Russia.
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Source: korrespondent
