Coty has terminated its licence with ultra-premium French biotech skin care brand Orveda.
The beauty giant has ended its licence agreement with Orevda after just four years, with the news being revealed during Coty’s latest earnings presentation last week.
The move is part of Interim CEO Markus Strobel’s new strategic framework – ‘Coty. Curated’ – which aims to sharpen priorities, boost sales and reflect an increased discipline across the business.
A Coty spokesperson told Cosmetics Business: “Given our focus on scale, reach and profitability, we have made the decision to end our licence with