Coty Share Value Climbs After European Launch of Kylie Skin
Personal care and cosmetics maker Coty (NYSE: COTY) has seen its stock price take off more than 9% in Friday morning trading after beginning sales of its freshly acquired Kylie Skin brand in Europe today. The move is Coty's first major expansion of the celebrity brand, of which it bought a controlling stake last November.
The company is offering six products as part of the initial rollout, including a serum, toner, moisturizer, eye cream, a foaming face wash, and a walnut face scrub. The Kylie products, made in partnership with celebrity personality Kylie Jenner, focus on the luxury portion of the market, one of Coty's foremost areas of expertise and profitability.
Image source: Getty Images.
Source Fool.com
