Coty Share Value Climbs After European Launch of Kylie Skin

Rhian Hunt, The Motley Fool
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. Coty's luxury brand division president, Simona Cattaneo, described the launch as the "next step as we accelerate the integration and build Kylie Jenner's beauty businesses into a global powerhouse brand."