The cosmetics company has struggled to integrate about 40 beauty brands, including Covergirl and Max Factor, that it bought from Procter & Gamble in 2016, forcing it to take billions of dollars in writedowns and outline a four-year restructuring plan. The company also said it was exploring options for its Brazilian unit as it shifts its focus to its fragrance, cosmetics and skin care businesses. “Coty is the No. 2 player in the global professional hair business, which has high consumer loyalty and should be an attractive business to a potential buyer,” Wells Fargo analyst Joe Lachky said.
