Things may be slightly unsettled at Coty Inc. due to the recent departure of CEO Michele Scannavini, but the company is not swaying from continuing on its global expansion path. The beauty company has just announced an acquisitions deal with Chanel. Coty has submitted a binding offer to acquire Chanel’s Bourjois masstige cosmetics brand for 15 million Class A Coty shares. Chanel has agreed to enter into exclusive negotiations.
 
Bourjois’ portfolio of color cosmetic products are sold through approximately 23,000 points of sale in more than 50 countries around the world, enjoying leading positions in some of the most attractive markets for color cosmetics, such as Western Europe, the Middle East and Asia. Bourjois was founded in 1863, by French actor Joseph-Albert Ponsin, who developed a line of color cosmetics for his fellow actors.