The American cosmetic company, which acquired a majority stake in the brand last November, has created a new roadmap for the company with a new chief executive officer.
Coty boosts Kylie Cosmetics. The American cosmetic company, which acquired a majority stake in the brand last November, has created a new roadmap for the company with the appointment of Christph Honnefelder as new chief executive officer.
The executive has a long career in the sector after having worked for the German cosmetics giant Douglas as executive vice president of assortment and purchasing as well as a member of the company’s executive committee.
Honnefelder has previously worked at Douglas as executive vice president of assortment and purchasing
Coty’s chief executive officer, Pierre Laubies, stated, “we are pleased to complete this transaction and partner with Kylie Jenner to build a high growth, digitally native beauty brand.” The American cosmetics company acquired a majority stake of the celebrity beauty business for 600 million dollars last November.
Kylie Jenner will lead the creative side, while Coty will manage the portfolio’s development, leveraging its global knowledge and capabilities in R&D, manufacturing, distribution, commercial and go-to-market expertise, as well as its deep understanding of fragrances, cosmetics and skincare categories will be under Coty’s leadership, as stated by the company in a press release.