Coty Announces Strategic Investment in TJoy Holdings

Coty Adds Popular Chinese Brands to Its Growing Skin Care Portfolio

TJoy, a leading Chinese skin care company and Coty Inc., a major leader in global beauty, announced that the two companies have decided on a share purchase agreement that requires Coty to purchase a majority stake in TJoy Holdings, Ltd. Coty and TJoy expect to complete the share purchase this coming January. Coty’s strategic investment expands its skin care market by gaining a solid foothold in China through TJoy’s present distribution channels. The agreement also gives Coty an opportunity to enlarge its R&D capabilities.

The Chairman of TJoy, Mr. Chuang Wen Yang, said, “The combination of TJoy and Coty is an important milestone for TJoy and is a ‘win-win’ situation for everyone. I am very confident that our combined businesses will enjoy rapid growth through Coty’s global reach and marketing expertise. ”
According to Coty’s CEO, Bernd Beetz, “The TJoy investment makes Coty as a major business in China, solidifying our position as a global beauty leader. TJoy and Pure Plant Extract are sublime additions to the Coty skincare portfolio, and only make our portfolio stronger.” Mr. Beetz also said that “We are excited by this investment in TJoy and look forward to welcoming the TJoy employees into the worldwide Coty family.”

Coty, which employs more than 8,500 people worldwide, ended its 2010 fiscal year with net sales of $3.6 billion, up 3 percent from the 2009 fiscal year.