One of the leaders in the cosmetics and perfume industry Coty leaves Russia

The French-American company Coty, which is one of the world's largest manufacturers of cosmetics and perfumes, has announced the termination of its activities in Russia. About it writes Reuters.

Coty manufactures products under 80 brands, including: Max Factor, Rimmel, CoverGirl, Burberry, Calvin Klein, Miu Miu, Tiffany & Co., Alexander McQueen, Guess, Londa, Adidas, Balenciaga, Chlo, Davidoff, Gucci, Hugo Boss, Kylie Skin, Marc Jacobs, Bottega Veneta and not only.

Russia accounted for just over 3% of sales in 2021, according to the company. In the fiscal year ending June 2021, Coty's total sales were $4.63 billion.

The manufacturer does not expect the move to affect revenue and profit targets for fiscal year 2022.