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NEW YORK — Cosmetics maker Coty has entered a new joint venture that it said would expand its footprint in the United Arab Emirates.
Coty announced a deal with U.A.E.-based luxury goods distributors Chalhoub Group and Jashanmal to form Coty Distribution Emirates. Coty said the joint venture, developed in connection with its longstanding partnership with the Chalhoub Group, would expand its go-to-market capabilities in the United Arab Emirates and provide consumers in the region with better access to its brand portfolio, in addition to allowing it to consolidate the distribution of its products and ensure a cohesive market strategy there.
"The United Arab Emirates has enjoyed steady growth over the past decade and is a key emerging market for Coty and the beauty industry," Coty CEO Michele Scannavini said. "Both Chalhoub and Jashanmal have proven to be exceptional partners to Coty in the Middle East and through our new joint venture. We look forward to further growing our business in this important market."