L’Oreal Chair Says Coty Lacks Business Model

L’Oreal chairman Jean‑Paul Agon said Coty has no business model, dismissing any comparison between the two cosmetics groups.
Coty withdrew its full‑year guidance in February, warned on Q3 profits and is reviewing options for its makeup brands.
Interim CEO Markus Strobel has been tasked with turning around Coty’s performance amid ongoing operational challenges.
L’Oreal shares rose 0.43% while Coty fell 3.21% following the remarks.