LONDON, Nov 10 (Reuters) – CoverGirl owner Coty plans to restructure its business in France following a review, the company said on Tuesday.
• Strength in key prestige brands including Marc Jacobs, Hugo Boss and Burberry is helping interim CEO Markus Strobel to revitalise Coty’s business
• Coty plans to cut 155 of 200 jobs in France, AFP reported last week, citing union sources
• The proposal for France is aligned with Coty’s strategy to build a simpler, more focused and more sustainable organisation, Coty said in a statement
• The proposal, which is subject to local labour law, includes a plan for reshaping Coty’s consumer beauty business and a review of its prestige operating model in France, Coty said
(Reporting by Alexander Marrow. Editing by Mark Potter)
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