Coty inaugurates new R&D Center of Excellence for Global Fragrances in GenevaMonday, 24 September 2018
Coty’s Manufacturing site in Versoix (GE), which will house the new Research and Development center | © Google
In September 2018, Coty inaugurated its new international Research and Development Center for perfumes that is to create 30 new “high added value” jobs.
Based in Versoix, the new R&D center represents a five million francs investment and is composed of state-of-the-art laboratories aiming to stimulate growth, innovation and excellence in perfumes.
The announcement was made after Coty became the world leader of this segment since its acquisition of Procter & Gamble’s (P&G) beauty division in 2016. A transaction evaluated at 12 billion francs, which allowed the company to double its sales revenue to nine billion francs and adding 43 brands to its portfolio (including Gucci, Hugo Boss or Calvin Klein).
30 new "high added value" jobs
With the opening of this new Center of Excellence in Versoix, the group has also created new “high added value” work jobs, bringing to 55 the number of researchers in Versoix (600 employees in total in Geneva, ex-P&G included).
“In Geneva, from the creation to the retail location of perfumes, we have a 360 degree command of our research, production and supply”, adds Mario Reis, president in charge of global logistics.
Coty is the world’s number one manufacturer of perfumes, number two in hair colouring and professional haircare and styling products, and number three in colour cosmetics. The company employs 20,000 people worldwide.