Coty explores sale of Max Factor and Rimmel as $12.5bn beauty bet backfires
JAB Holding-owned beauty group bought Procter & Gamble’s cosmetics division in 2015
JAB Holding-owned beauty group bought Procter & Gamble’s cosmetics division in 2015

Deal includes rights to develop products under Gucci, Bottega Veneta and Balenciaga labels

Sale represents first big restructuring move by chief executive Luca de Meo

Tie-up between US and Spanish groups would create a $40bn beauty giant

Cosmetics group’s chief also credits recovery in Chinese market as revenues in Europe and north Asia grow

Luca de Meo says agreement with L’Oréal will be first of several big moves to refocus luxury group on Gucci turnaround

Competition regulator claims retailer and Benefit Cosmetics encourage purchases through ‘covert’ social media marketing