Beauty products company Coty putting on its best face for expansion (NC)
RALEIGH, N.C. — Gov. Pat McCrory, North Carolina Commerce Secretary John E. Skvarla, III, and the Economic Development Partnership of North Carolina announced that Coty, Inc., a global leader in beauty products, will expand its manufacturing facility in Lee County and is planning to hire an additional 25 employees. Coty also plans to invest approximately $19 million at the site during the next three years.
“Manufacturing is a key component of the Carolina Comeback,” McCrory said. “Coty is the latest major global company to announce plans to expand its manufacturing operations here in North Carolina.”
Coty is a leading global beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in more than 130 countries and territories. Coty’s product offerings include such global brands as Adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs, OPI, philosophy, Playboy, Rimmel and Sally Hansen.
The company reported net revenues of $4.4 billion for the fiscal year ending June 30, 2015. Coty has announced an agreement, subject to customary regulatory approval, to merge with P&G’s fine fragrance, color cosmetics and hair color businesses (the “P&G Specialty Beauty Business”), the successful completion of which is expected to create one of the world’s largest pure play beauty companies and double the size of Coty by revenues.
Coty’s existing Lee County workforce totals more than 750 employees, as well as several hundred contractors. The Coty expanded workforce will include production line workers. The average annual payroll of the new jobs will be approximately $1.1 million.
“Manufacturing employs nearly 463,000 North Carolinians and accounts for 20 percent of our GDP,” Skvarla said. “Highly productive workers, a pro-business climate, a competitive cost-structure and great quality of life are among the many reasons our state leads the Southeast in manufacturing employment.”
Visit the company’s Careers page here.