NEW YORK — Coty on Thursday announced that it had completed its acquisition of 60% of online peer-to-peer beauty selling platform Younique. The site’s founders will retain 40% ownership under the partnership.
Coty said that Younique would operate as a separate business within its consumer beauty division, led by current CEO Derek Maxfield and chief visionary officer Melanie Huscroft, as well as Younique’s management team, in partnership with Coty.
“We are pleased to complete this transaction and partner with Younique to build a leading global e-commerce beauty company,” Coty CEO Camillo Pane said. “We welcome Younique’s employees, presenters and customers to the Coty family.”