There you have it:
Coty announces that it plans to focus more intently on its fragrance, cosmetics and skin care businesses after conducting a strategic review of options.
As a result of the decision, the company is exploring strategic alternatives for its Professional Beauty business and associated hair brands, as well as the company's Brazilian operations, including a divestiture.
Coty expects proceeds from any deal will be used to pay down debt and return excess cash directly to shareholders.