L'Oreal chairman says Coty lacks business model

Loreal SA

24/04/2026 11:37

PARIS, April 24 (Reuters) - The chairman of French cosmetics group L'Oreal OREP.PA dismissed any comparison with struggling beauty group Coty COTY.N on Friday, adding that the smaller company had no business model at all.

"Let's just say that I think there simply isn't a model at Coty, and therefore there's nothing to say about it," said Jean-Paul Agon, in response to a shareholder's question.

Coty, which withdrew its full-year guidance in February and warned on its third-quarter profits, is reviewing options for its makeup brands under interim CEO Markus Strobel who has been tasked with turning around the company's performance.

 (Reporting by Dominique Patton
Editing by Tomasz Janowski)

 ((dominique.vidalon@thomsonreuters.com; +33149495432; Reuters Messaging: dominique.vidalon.reuters.com@reuters.net/))