Massive beauty conglomerate Coty has today announced a significant new addition to their already impressive portfolio of over 77 beauty, hair, fragrance and care brands, acquiring premier haircare and electricals company ghd for AU$673 Million. Coty purchased the big name brand from Lion Capital LLP, and it will now join famous stablemates such as Calvin Klein, Wella Professionals, OPI, Marc Jacobs and many more under the diverse Coty umbrella.
The acquisition seems a shrewd move on Coty’s behalf, considering ghd generated AU$285 million in the 2016 fiscal year alone, and operates extensively globally, with markets in the United Kingdom, Australia, the United States, Germany, France, Spain, Italy and more. The iconic brand comprises a range of high-grade electric tools, including their feature straighteners headed by the newest ghd platinum, as well as hairdryers and curling wands, as well as other styling products.
ghd will now become part of the Coty Professional Beauty division, where it will be managed as a standalone business led by ghd CEO Anthony Davey and management team, who will in turn report to Sylvie Moreau, President of Coty Professional Beauty. Coty will utilise the brand to cater to their professional hairdressing clients in particular, by delivering the highest level of salon tools.
“We are pleased to bring ghd’s highly skilled management team and its employees into Coty as we continue to strengthen our core business through the addition of innovative market-leading brands and products,” shared Camillo Pane, Coty Chief Executive Officer. “ghd has beautifully designed and superior performing products and is the preferred choice for discerning professionals and consumers alike. Not only do we expect ghd to strengthen our professional hair portfolio and enable Coty to provide even better hair solutions, but we also believe there is strong growth potential for ghd across several markets.”
“This is a fantastic opportunity for the ghd brand and its team,” Anthony added. “The combined expertise and capabilities of ghd and Coty will be a powerful force of innovation in the hair business. Together, we will further excite and delight our existing salon partners, clients and consumers, and attract many new ones across the world.”
It’s just another major step in our worldwide endeavour for the eponymous, elusive ‘good hair day’.
For more information visit ghdhair.com/au