Coty, which also owns Calvin Klein, Chloe and Davidoff, will add philosophy to its Coty Prestige division for a deal worth $1B. philosophy was founded in 1986 and sells a range of products at Sephora, Ulta, Nordstrom, QVC and more.

"philosophy is one of the beauty industry's most prestigious brands and a fantastic addition to the Coty family," said Bernd Beetz, Coty's CEO. "This acquisition will allow Coty to strengthen its presence in the skincare category, which is one of our key strategic objectives."

Select ratingPoorOkayGoodGreatAwesome

No votes yet