From Happi.com:
A Done Deal: Coty Buys OPI
2010-11-29 | 10:43
After weeks of speculation, Coty Inc. has signed a deal to acquire salon nail care specialist OPI Products Inc. The price tag is said to have come in at under $1 billion. Now, Coty is said to be looking at another opportunity.
The beauty giant has been on a buying spree and in recent weeks has struck deals to acquire skin care brand Philosophy from private equity firm The Carlyle Group and Dr. Scheller Cosmetics from Russian company Kalina.
Coty funded the acquisition with cash, input from its investors and debt. And more could be on the way in a few days.
"This acquisition will allow Coty to expand our presence in the nail care category via an important new channel of distribution: professional salons, and importantly will offer an even greater selection of products and choice to consumers," said Bernd Beetz, chief executive officer of Coty in a statement.
"Our management team will continue on with the company and OPI's business strategy will remain focused on the salon professional," said George Schaeffer, president and ceo of OPI, which was founded in 1981 and made a name for itself selling nail polishes with names such as Flashbulb Fuchsia and Dim Sum Plum.
As many of you probably already know, Coty owns Rimmel and a variety of fragrance brands such as Sarah Jessica Parker, Halle Berry, Jennifer Lopez, Vera Wang and the list goes on. Now that they own Philosophy and OPI, I wonder what that will mean in terms of distribution. Will we start to see OPI in more retail locations? What do you think?
I am worried about OPI's color selection being affected, hopefully the creative producers don't change too much.
ReplyDeleteAs for Coty testing on animals, this personally offends me but I usually do not take it to extremes and protest buying a brand because of it--BUT I know many that are opposed to it and will most likely not buy OPIs anymore. C'mon Coty, get with the times and get some humanity!
thanks for the info sugar :)
Ditto what kelliegonzo said!
ReplyDeleteThis worries me as I know that currently OPI does not test on animals but some Coty brands do. I'm really hoping they won't start with OPI.
ReplyDeleteI am also worried about animal testing.
ReplyDeleteIf I can't get confirmation on whether they will or will not continue with the OPI product I will NOT buy any more no matter how great the colors look.
I work with a rabbit rescue, how could I possibly be ok with people who use them for testing if I'm the business of saving them?
Exactly what others have said--I WILL NOT buy OPI if it is owned by a company that tests on animals! Especially since OPI is rather pricy to begin with. Even if the OPI brand itself still remains cruelty-free, it will still put money in the pockets of those who aren't. This really makes me disappointed.
ReplyDeleteUnless Coty suddenly decides to stop animal testing altogether, this is going to turn a lot of people off of OPI!
I'm in agreement with everyone so far. Unless I get a complete confirmation that they will not incorporate animal testing with OPI products, I'm done with the brand. Being a vegan, I take animal cruelty seriously, even in my cosmetics. Besides, it's not like OPI is the ONLY brand of nail polish out there.
ReplyDeletewowza!!! Who knows what possibilities this could bring! Exciting!
ReplyDeleteCoty Inc. also owns Sally Hansen. I am worried that the colors and formulas will coagulate, giving us Sally Hansen polishes in more expensive bottles, or cheaper OPI formulas that aren't as awesome as they are now. Aside from the animal rights issue, I am concerned with the integrity of the OPI products being compromised.
ReplyDelete