Beauty products maker Coty Inc. (COTY) announced that its board has approved an additional $200 million share repurchase authorization of its Class A common stock. With this authorization and the $100 million remaining under the already existing stock repurchase authorization, the company's total current share repurchase authorization is $300 million.
In a separate press release, Coty and Li & Fung announced that they have entered into an agreement in which Li & Fung will distribute some of Coty's power brands in China, including adidas, Rimmel, and Playboy.
This agreement with Li & Fung represents a shift in Coty's go-to-market strategy for brands sold through the mass distribution channel in China, by allowing Coty to leverage Li & Fung's broad distribution network in that channel. Coty will oversee development, production, marketing and brand building activities, while profiting from the strong go-to-market capabilities of Li & Fung.
At this juncture, Coty will also discontinue the TJoy brand to focus on the international power brands that have more growth potential in China. This distribution agreement is consistent with Coty's previously announced intent to reorganize Coty's mass business in China, with the objective of bringing significant benefits to the profitability of Coty China and to the overall skin and body care segment.
The partnership will start July 1 for a handover of the activities concerned.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.