Coty Gets Ready For Its Planned IPO

Cosmetics company Coty plans to launch an investor road show promoting its planned initial public offering. Founded in Paris, France, in 1904 by Francois Coty, the company has grown into a global corporation, posting $4.6 billion in sales in the year that ended on June 30, 2012. Bank of America Merrill Lynch, JPMorgan Chase, and Morgan Stanley will lead the share offering for the privately owned company which gained attention for its ultimately failed attempt to acquire larger rival Avon in 2012. Revelations about Coty's overpaid acquisition of China-based skincare company TJoy and United States-based high-end brand Philosophy, however, have clouded the prospects of the IPO-bound Coty.