Coty Ends Partnership with Younique
In a press release, Coty announced that the company has terminated its partnership with direct sales company Younique in a mutual agreement. After the pending regulatory approval, Coty plans to sell back its majority interest in the company to the founder.
Focusing on Individual Strengths
The main reason for the planned separation, according to Coty, is that the two partners have different business models. In the future, both companies want to concentrate more on their own business development and on their respective strengths. The Coty Group is particularly focused on implementing its turnaround strategy in the coming months.
The details of the transaction have not been made public. Coty, however, announced that the deal would not have an impact on the company's intangible asset base.
Source, photo: Coty