Apparently that’s now beauty-biz code for: “Let us take whatever wasn’t working for you – including some stuff that really and truly wasn’t working for you – and see what we can do with it.”
Presumably that wasn’t the way the talks around Coty’s jaw-dropping, $12.5 billion purchase of 43 P&G brands went down in early July. But to the average armchair industry-watcher, it’s easy to think it might have.
Why? Because along with semi-gems like Wella and CoverGirl (and let’s be frank – if they were genuine growth-potential gems P&G would have hung onto them, as it did with Pantene, Olay and SK-II), Coty, come mid-2016, will be tasked with absorbing not only dozens of tiny underperformers, but also the thousands of employees attached to those brands. [Read more…]