Revlon buys Coty’s Cutex business

Revlon has purchased Coty’s international Cutex businesses, which mainly operates in Australian and the UK markets.

Following this purchase, Revlon has consolidated Cutex brand’s global operations under its management.

Revlon COO and executive vice president (EVP) Gianni Pieraccioni said: "Cutex has been a consistent source of innovation, from its invention of liquid nail polish in 1917 to its popular nail polish removers widely used today.

"With this acquisition, Revlon continues to enhance our global brand portfolio and it provides us with a springboard to grow the Cutex brand worldwide. We are excited to complete the global consolidation of the Cutex brand, as this will enable us to optimise the brand’s full potential."

Coty’s EVP and chief financial officer Patrice de Talhouët said: "As recently announced, Coty aims to rationalise its portfolio by focusing on fewer brands to drive a higher growth and better quality business, transforming Coty into a new global leader and challenger in the beauty industry.

"Coty’s sale of these Cutex businesses is another step towards our strategy. Coty will continue to drive its leadership in the consumer and salon nail category as a key part of its growth strategy, however the Cutex business was not a focus-brand for Coty."

The terms of the deal have not been revealed.

A 100-year-old brand, Cutex has a wide range of nail polish remover products including liquid nail polish removers, nail polish remover pads, jar nail polish removers and gel polish removers.

Revlon manufactures cosmetics, hair colour, haircare products, beauty tools, men’s grooming products, anti-perspirant deodorants, fragrances, skincare, and other beauty care products.