Philippe Margueritte has left Coty’s travel retail division.

Coty has confirmed to TRBusiness that Senior Vice President Global Travel Retail Philippe Margueritte has left the company and that Txema Marquiegui is his replacement.

Marquiegui, who was previously Senior Vice President Coty Luxury for Europe, has been leading Coty’s luxury business.

Marquiegui will remain based in Geneva, Switzerland at Coty’s Global Travel Retail headquarters, and will continue to report to Edgar Huber, Global President, Coty Luxury. 

The exact circumstances surrounding Margueritte’s exit are unknown.

LASTING IMPRESSION

Margueritte played a central role in developing travel retail following Coty Inc.’s $12.5bn merger of the Procter & Gamble (P&G) fine fragrance, colour cosmetics, salon professional and hair colour empire in 2015, resulting in Coty absorbing 43 of P&G’s beauty brands.

Marquiegui will remain based in Geneva.

He consequently told TRBusiness in an exclusive interview that the acquisition, one of the beauty sector’s most significant in recent times, was being well received by Coty’s operator partners.

Speaking in November 2018, he stressed the firm’s number one priority lies in ‘stepping up’ its activity in colour cosmetics.

As the former CEO of Coty Beauty, Spain, he joined the travel retail division in 2012 as Regional Vice President Travel Retail Worldwide and Latin America Export at Coty Prestige following a spell as Regional Vice President Southern Europe for Coty Beauty.

He also has experience with LOréal, holding several positions as country Vice President across its personal care and consumer product divisions.

Within the industry, Margueritte is a serving member of the TFWA Management Committee in the fragrances and cosmetics category.