The American manufacturer of perfumes and cosmetics Coty announced the «curtailment of activities» in Russia. The company's message is quoted by Reuters.
Russia accounted for 3% of the concern's sales in 2021. In total, the company estimated annual sales worldwide at $4.63 billion.
Coty owns the Rimmel, Max Factor, Bourjois, Wella, Cover girl, Sally Hansen, Kylie Cosmetics brands of cosmetics, as well as licenses for the production of cosmetics and perfumes for brands such as Gucci, Balenciaga, Burberry, Marc Jacobs, Dolce & Gabbana, Calvin Klein, Adidas and Mexx.
After the invasion of Ukraine, LVMH, which includes Sephora cosmetics stores, and the Estee Lauder group, suspended work in Russia. Export to Russia was stopped by Unilever, the decision did not affect household chemicals produced domestically. L'Oreal Group has decided to temporarily close stores and suspend investments.
War in Ukraine. Sanctions and consequences