Coty to acquire philosophy

Published: 23-Nov-2010
Skin Care Finance

Beauty giant continues shopping spree with bolster to prestige division

Coty has today announced it is to acquire premium skin care and bath and body company philosophy from global alternative asset manager The Carlyle Group in a move to further diversify and expand its Coty Prestige division, which includes brands such as Calvin Klein and Marc Jacobs.

Founded in 1996, philosophy has a strong emotional connection with consumers, with products like hope in a jar combining brand approachability and performance. The line is expected to generate sales of over $200m in 2010 and is a regular winner of beauty industry awards.

"philosophy is one of the beauty industry's most prestigious brands and a fantastic addition to the Coty family," said Bernd Beetz, ceo, Coty Inc. "This acquisition will allow Coty to strengthen its presence in the skin care category, which is one of our key strategic objectives."

"philosophy is a perfect fit with Coty. We have a common focus on innovation, passion for brand development and entrepreneurial culture, and highly complementary brands," added Michele Scannavini, president, Coty Prestige. "We believe the brand still has significant growth potential in the US and tremendous opportunities in the international markets."

Ken Stevens, ceo, philosophy inc commented: "philosophy's success is driven by providing women with products that deliver results and inspiration. We thrive on innovation and are extremely excited to join Coty, a company that shares our passion for delighting consumers with superior products. We look forward to significant growth as part of the Coty global portfolio of brands. I am grateful for the wise counsel and confident support that Sandra Horbach and the Carlyle team always provided to me in the running of this business.”

"philosophy has achieved great success under our ownership thanks to the hard work of Ken Stevens, his management team and philosophy's many devoted associates," said Sandra Horbach, md of The Carlyle Group. "We recognize and thank philosophy founder Cristina Carlino for creating this unique brand and for her years of dedication to the company. Coty is an outstanding partner for philosophy, and we wish them continued success."

The deal is reportedly worth about $1bn, though financial terms have not been disclosed. It is subject to the usual regulatory approvals and is expected to close in December 2010.

See more

You may also like

You need to be a subscriber to read this article.
Click here to find out more.
Finance

Movers and shakers: 2026’s most impactful beauty CEO appointments

Read more
Beauty executives simply cannot sit still this year, amid a staggering number of exits and appointments from brands large and small. Cosmetics Business lists the most impactful role changes in beauty C-suite in 2026 so far

Trending Articles

  1. You need to be a subscriber to read this article.
    Click here to find out more.
    From Estée Lauder Companies to Glossier: 2026's biggest beauty job losses Economic challenges, acquisitions, administration troubles and a changing approach to purchasing products are some of the factors leading to mass job losses across the beauty industry at Estée Lauder Companies, Glossier and more
  2. Estée Lauder Companies and Puig ‘terminate discussions’ over merger Discussions around the potential merger between the US beauty giant and the Spanish multinational have been terminated. Estée Lauder Companies President and CEO, Stéphane de La Faverie, and Puig CEO Jose Manuel Albesa explain why the talks have failed
  3. Stranger Things star Natalia Dyer named global face of K-beauty brand Purito Seoul The appointment of the 31-year-old American actress, who plays Nancy Wheeler in Stranger Things, comes as Purito Seoul ramps up its global presence, which includes launching into US retailer Target
  4. You need to be a subscriber to read this article.
    Click here to find out more.
    Exclusive: Lookfantastic brings ‘What the SPF?!’ campaign to London via immersive pop-up Lookfantastic is set to hold an interactive pop-up in London, UK, to mark the sun safety campaign, which was originally launched in 2024
  5. Estée Lauder Companies hungry for M&A as turnaround strategy pays off The US beauty giant is in a much stronger position in 2026, according to Estée Lauder Companies President and CEO Stéphane de La Faverie, as it prepares to explore M&A opportunities, including the potential for a wider stake in 111Skin

Upcoming event

Cosmoprof CBE ASEAN Bangkok

24-26 June 2026 | Bangkok, Thailand See all

You may also like

You need to be a subscriber to read this article.
Click here to find out more.
Finance

Movers and shakers: 2026’s most impactful beauty CEO appointments

Beauty executives simply cannot sit still this year, amid a staggering number of exits and appointments from brands large and small. Cosmetics Business lists the most impactful role changes in beauty C-suite in 2026 so far
You need to be a subscriber to read this article.
Click here to find out more.
Colour Cosmetics

Gen Z are still the most sought-after beauty demographic, but for influence, not spend

With Gen X and boomers now beauty’s biggest spenders, Gen Z’s power play is changing behaviour. This group is demanding premiumisation with accessibility from brands in 2026, as well as a genuine cultural connection, which makes winning this group over a critical future investment
You need to be a subscriber to read this article.
Click here to find out more.
Finance

Beauty’s highest paid CEO salaries revealed: L’Oréal, Shiseido, Coty and more

Find out the 2025 salaries of L'Oréal CEO Nicolas Hieronimus, Shiseido CEO Kentaro Fujiwara, Estée Lauder Companies CEO Stéphane de La Faverie and more in Cosmetics Business’ latest report
Finance

Coty Interim CEO Markus Strobel provides update on Gucci licence situation

Strobel, speaking during a Q&A session as part of Coty’s Q3 2026 financial update, reaffirmed the French beauty giant’s position on its licence to produce Kering-owned Gucci’s beauty and fragrance lines, which will move to L’Oréal in 2028
Finance

Coty’s Q3 revenue impacted by the Middle East conflict

The beauty giant’s finances were hit by the ongoing war in Iran, reporting a net revenue decline of 7% on a like-for-like basis, while its ‘Coty.Curated’ turnaround strategy kicked off during the quarter
Finance

This is what Coty Interim CEO Markus Strobel earns

Markus Strobel, who joined Coty as Interim CEO on 1 January 2026 after Sue Nabi’s departure, has a package which is made up of an annual base salary, one-time sign-on bonus and equity grants
Finance

Coty appoints five new Independent Directors to board as part of ‘strategic evolution’

The appointment of Carsten Fischer, Alia Gogi, Robert Kunze-Concewitz, Maria Carla Liuni and Stephanie Plaines is part of a ‘comprehensive’ board refreshment by Coty CEO Markus Strobel
Subscribe now