November 30, 2005
Coty Inc. and IBM in procurement services agreement
Coty Inc. is a market leader in global beauty products with a portfolio of 35 brands including Calvin Klein, Adidas, Rimmel, Davidoff, Lancaster, Jennifer Lopez, Jil Sander, Joop! Kenneth Cole. The group, comprising of Coty Beauty and Lancaster Group, has now finalized a 5-year contract with IBM for procurement services. Under the terms of the agreement, IBM will procure goods and services for Coty in the specific areas of business services, travel, facilities management, technology and telecommunications, marketing, and logistics.
Coty expects to take advantage of IBM's global economies of scale in providing an impetus to its business line. It will also result in significant cost savings, which will ease the pressure on capital. IBM will provide its key Procure-To-Pay procurement solution, which will serve as the foundation of the deal. This is because Coty will now have access to IBM commodity experts, a global contact center, and an accounts payable processing center supporting Coty suppliers and employees in six languages.
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