US-based beauty products manufacturer Coty has entered into a joint venture with UAE-based luxury goods distributors Chalhoub Group and Jashanmal to form a new entity Coty Distribution Emirates LLC, aimed at strengthening Coty’s footprint and go-to market capabilities in the UAE.
According to a statement from Coty, the joint venture, which was developed in connection with Coty’s long standing partnership with the Chalhoub Group, will also allow the company to consolidate the distribution of its products and ensure a cohesive marketing strategy throughout this key market.
"The UAE has enjoyed steady growth over the past decade and is a key emerging market for Coty and the beauty industry. Both Chalhoub and Jashanmal have proven to be exceptional partners to Coty in the Middle East and through our new joint venture, we look forward to further growing our business in this important market," says Michele Scannavini, CEO of Coty Inc.
"We are very pleased to extend our long term relationship with Coty, a partnership which has benefitted both of our businesses greatly. We are confident that through this joint venture we will reinforce our collaboration while answering to the market and consumer needs in the region," says Patrick Chalhoub, CEO of Chalhoub Group.
"We have experienced a successful partnership with several of the Coty owned brands over the years and are now pleased and honoured to be part of this joint venture with the parent company," adds Tony Jashanmal, executive director of Jashanmal.
Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of fragrances, colour cosmetics and skin & body care products sold in over 130 countries and territories. Coty’s product offerings include such global brands as adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.