P&G Sells 43 Beauty Brands to Coty

Procter & Gamble (P&G), a leading consumer goods company, made a strategic decision to divest 43 of its beauty brands to Coty, a prominent beauty-product manufacturer, in a deal valued at US$13 billion. This move was primarily driven by the sluggish growth observed in P&G's beauty division, which prompted the company to reassess its portfolio and focus on its core strengths. The sale included well-known brands that had been part of P&G's extensive product lineup, reflecting a significant shift in the company's business strategy. The completion of this transaction marked a pivotal moment in the beauty industry, as it consolidated Coty's position as a major player in the market, allowing it to expand its brand offerings and enhance its competitive edge against other beauty companies. The divestiture also allowed P&G to streamline its operations and allocate resources more effectively towards its remaining brands, which include household and personal care products.