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Coty to expand brands portfolio
Coty has submitted a binding offer to acquire the Bourjois cosmetics brand from Chanel 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. Bourjois was founded in 1863, by French actor Joseph-Albert Ponsin, who developed a line of color cosmetics for his fellow actors.
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Gap CEO Glen Murphy to retire; digital head Art Peck to take reins
San Francisco -- Gap Inc. announced that its chairman and CEO, Glen Murphy, will step down, effective February 1, 2015. He will be succeeded by Art Peck, the president of the company’s growth, innovation and digital division.
Murphy and Peck have worked side-by-side for the better part of a decade as Gap dramatically improved its financial performance while expanding globally, the company said.
