Coty Withdraws Avon Bid
Coty recently withdrew its bid for Avon, leaving questions in the beauty and personal care industry about what’s next for the company. Oru Mohiuddin, company analyst for beauty and personal care at Euromonitor, states that other acquisition targets could be sought out by Coty. Revlon and Natura, the other potential targets, are not as well-positioned as Avon, which would have provided Coty an entry into the Latin American market and a presence in colour cosmetics. Mohiuddin states that the withdrawal may be an attempt to coerce Avon into accepting the bid.
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