Beauty company Coty Inc. (NYSE:COTY) is seeking buyers for a selloff in two parts, fashion trade publication WWD reported, citing multiple industry sources. The company intends to sell both its luxury segment, which houses brands such as Hugo Boss, Gucci and Burberry, and its consumer division, including CoverGirl and Max Factor, the report said. Coty was in discussions with premium perfume maker Interparfums (IPAR.PA), about the sale of its luxury business, the report said, adding that the talks were in early stages.
Coty said it does not comment on rumor and speculation, while Interparfums did not immediately respond to a Reuters request for comment.
