CEO Sue Y. Nabi on restructuring fragrance maker Coty, phone calls with Kim Kardashian West, and sustainable, vegan, gender-neutral fragrances.
Interview by Elisabeth Dostert, Versoix
She should fix it now. Sue Y. Nabi, 53, has been at the head of the American company Coty for over a year. The world’s largest fragrance maker belongs to the kingdom of the billionaire Reimann family, which controls its investments through JAB Holding. Coty got in trouble with a takeover. In 2015, the company bought a portfolio of perfumes, cosmetics and hair care, including Wella, Gucci, Covergirl, Boss and Max Factor, from US company Procter & Gamble for $ 12.5 billion. After heavy losses, Coty transferred a 60% stake in Wella to financial investor KKR in the spring of 2020, which at the same time took a 17% stake in Coty. In order to open up new target groups, Coty joined the cosmetic groups of influencers Kylie Jenner and Kim Kardashian West.