Coty plans business restructuring in France

Coty Inc (NYSE:COTY), the cosmetics company that owns CoverGirl, announced plans on Tuesday to restructure its operations in France following a business review.

The company said the restructuring proposal aligns with its strategy to create a simpler and more focused organization. Interim CEO Markus Strobel is working to revitalize Coty’s business with help from strong performance in key prestige brands including Marc Jacobs, Hugo Boss and Burberry.

The proposal includes plans to reshape Coty’s consumer beauty business and review its prestige operating model in France. The company said the restructuring is subject to local labor law requirements.