NEW YORK--(BUSINESS WIRE)--
Today, Coty (NYSE: COTY) (Paris: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, is pleased to announce that it has completed the repurchase of 27 million shares at an attractive price relative to current market price as part of its share buyback program, announced on June 10th, 2022.
Laurent Mercier, Coty’s Chief Financial Officer, stated, “This repurchase of shares demonstrates Coty’s commitment to gradually return value to shareholders and is a decisive step forward in reducing our outstanding share count to approximately 800 million shares while we continue our disciplined deleveraging trajectory toward approximately 2x by calendar year end 2025.”
About Coty Inc.
Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. We serve consumers around the world, selling prestige and mass market products in more than 125 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to protecting the planet. Learn more at or on and .
Forward Looking Statements
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Forward-looking statements contained in this press release are based on certain assumptions and estimates that we consider reasonable, but are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual events or results (including our financial condition, results of operations, cash flows and prospects) to differ materially from such statements. Factors and risks to our business that could cause actual results to differ from those contained in the forward-looking statements include the risks and uncertainties described in our filings with the Securities and Exchange Commission. These forward-looking statements are made only as of the date of this release, and Coty does not undertake any obligation, other than as may be required by applicable law, to update or revise any forward-looking or cautionary statements to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise.
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