Coty Inc., a leader in the global beauty industry, today announced the opening of Coty’s new Russian subsidiary. The opening of Coty’s Russia office, located in Moscow, is a strategic initiative for establishing direct in-house marketing control of the Coty products in Russia.
“The opening of Coty’s Russian subsidiary provides Coty with a competitive in-market edge to advance our sales and build business partnerships while simultaneously strengthening our global presence in the beauty industry,” says Coty Chief Executive Officer Bernd Beetz.
The sustained success of Russia’s nearly $8 billion cosmetics and toiletries industry positions the country as a key emerging market and priority expansion opportunity for Coty.
Prior to the establishment of this Russian office, Coty products were sold in Russia through multiple distribution partnerships.