Coty is weighing the sale of the unit, which owns brands including Wella, as part of the CEO’s plan to turn around the wider business by boosting margins and reducing leverage.
CEO Jeff Harmening said the company is “innovating in new product forms that command premium price points,” which includes a box of Morning Summit cereal priced for a cool $13.
The apparel and footwear company’s filing with the Securities and Exchange Commission on Feb. 14 reports it plans to raise $100 million in common stock.