The success of Kylie Jenner’s beauty brand offers a lesson on mergers and acquisitions for many in the cosmetics industry
Coty Inc. intended to “instantly create” a beauty superpower with its $12 billion spree on Procter & Gamble Co’s collection of cosmetic and fragrance brands in 2015. Instead, it created a headache that it may take a Kardashian to cure.
The owner of Max Factor and Clairol took $4 billion in write-downs this year because of problems integrating P&G’s dozens of brands, marketing miscues and an inflated view of what venerable brands are worth.
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