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NEW YORK — Revlon Inc. and Coty Inc. announced on Monday that Revlon has acquired Coty’s international Cutex business, which primarily operates in Australia and the United Kingdom.
With this acquisition, Revlon completed the global consolidation of the Cutex brand’s worldwide operations under Revlon management.
“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,” said Gianni Pieraccioni, executive vice president and chief operating officer at 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.”
Commenting on the sale of the Cutex business, Coty executive vice president and chief financial officer Patrice de Talhouët said, “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. Coty’s sale of these Cutex businesses is another step toward 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.”
Cutex provides consumers with quality and innovative nail products, including a wide range of nail polish remover products, including Cutex liquid nail polish removers, nail polish remover pads, jar nail polish removers and gel polish removers.
By reunifying Cutex’s worldwide operations within Revlon’s brand portfolio, Revlon is now positioned to strengthen the Cutex brand by focusing on redesigning the existing Cutex nail care products to enhance consumer appeal and expanding its portfolio into additional categories.
