PARIS, April 24 (Reuters) - The chairman of French cosmetics group L'Oreal dismissed any comparison with struggling beauty group Coty on Friday, adding that the smaller company had no business model
L'Oreal chairman says Coty lacks business model
Comparison Between L'Oreal and Coty
Chairman's Remarks on Coty's Business Model
PARIS, April 24 (Reuters) - The chairman of French cosmetics group L'Oreal dismissed any comparison with struggling beauty group Coty on Friday, adding that the smaller company had no business model at all.
Jean-Paul Agon's Response to Shareholder
"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's Current Situation
Financial Guidance and Leadership Changes
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.
Coty's Response to Criticism
Coty did not respond to a request for comment on the remarks.
Reporting and Editing Credits
(Reporting by Dominique PattonEditing by Tomasz Janowski and Louise Heavens)
