LOreal Chairman Dismisses Coty Business Model
Jean-Paul Agon stated today that the struggling beauty group lacks a clear business model. Coty is currently reviewing its makeup brands to improve performance.
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In a sharp critique of a major industry competitor, the chairman of the French cosmetics giant L'Oreal addressed shareholders in France on Friday. During the session, Jean-Paul Agon dismissed comparisons between his company and COTY INC-CL A, suggesting that the smaller rival currently operates without a viable strategy.
Let's just say that I think there simply isn't a model at Coty, and therefore there's nothing to say about it.
