Coty is considering double listing on the Paris stock exchange

Coty Inc said Friday it would explore a listing on the Paris Stock Exchange as cosmetics maker CoverGirl looks to bolster its presence in Europe and tap into new investors in the market.

Founded in Paris in 1904, Coty sees Europe as a substantial market, with net revenues from the EMEA region making up approximately 47% of the company’s total sales in its most recent quarter.

Coty, also known for Hugo Boss, Gucci and Burberry fragrances, maintained its annual earnings forecast in March, forecasting full-year organic sales growth at the top end of its earlier 6-8% forecast.

The company will report its third-quarter fiscal results next week, following a gloomy 2023 fiscal forecast from rival Estee Lauder Cos Inc earlier this week about slow recovery in duty-free and travel destinations, especially in Asia.