Coty Inc have announced the opening of Coty's new Russian subsidiary. The opening of Coty's Russia office, located in Moscow, is described as 'a strategic initiative for establishing direct in-house marketing control of the Coty products in Russia.'
"The opening of Coty's Russian subsidiary provides Coty with a competitive in-market edge to advance our sales and build business partnerships while simultaneously strengthening our global presence in the beauty industry," commented Coty Chief Executive Officer Bernd Beetz. "Coty's Russia team will leverage existing relationships and establish new partnerships with distributors in Russia and related markets to deliver the highest quality products to consumers."
Previously, Coty's products were sold in Russia through multiple distribution partnerships.
Coty CEO Bernd Beetz has named former Beauty & Co. General Manager and Commercial Director Roman Terekhov as General Director of the new Russian subsidiary. Terekhov will be responsible for Coty's day-to-day operations in Russia, overseeing 60 employees within the marketing, sales, supply chain, and finance and information technology divisions.
"Roman's extensive industry knowledge, especially of the Russian market, and extensive business experience make him an outstanding addition to the Coty family," added Beetz.
The new subsidiary will manage the marketing, sales and distribution of select Coty products, including Rimmel color cosmetics, adidas personal care products, Lancaster skin and sun care products and Calvin Klein, Celine Dion, Cerruti, Chloe, Chopard, David Beckham, Davidoff, Esprit, Jil Sander and Marc Jacobs fragrances