Algerian-born French entrepreneur and business executive Sue Youcef Nabi (Sue Nabi) has seen the market value of her stake in Coty Inc. increase by over $20 million over the past six days, driven by the recent surge in the shares of the multinational beauty company on the New York Stock Exchange (NYSE).
According to market data, Nabi’s stake in Coty has surged by $20.6 million in less than a week as investors on the New York Stock Exchange (NYSE) — the largest stock exchange in the world — renewed buying interest in Coty after a slow start this year.
Coty’s multifaceted empire: Fragrances, cosmetics, and hair care
Coty, the American multinational beauty company founded in 1904 by François Coty has evolved into a global powerhouse in the fragrance industry, it holds the second-largest market share in hair color and styling products and is the third-largest in color cosmetics.
With its subsidiaries, Coty develops, manufactures, markets, and distributes fragrances, cosmetics, skincare, nail care, and both professional and retail hair care products including ownership of around 77 brands as of 2018.
Nabi, who is not just the ex-president of L’Oreal and Lancome but also the founder of vegan skincare line Orveda, owns a significant 3.53-percent stake in Coty, which translates to 30,304,786 shares valued at nearly $370 million.
Coty shares rebound: Sue Nabi shines as her stake nears $370-million milestone
In recent times, Coty shares on the New York Stock Exchange have increased by 5.9 percent, rising from $11.52 on Jan. 5 to $12.2 at the time of writing, thus leading to gains amounting to millions of dollars for its shareholders, including Sue Nabi.
As a result of the recent surge in the group’s shares, the market value of the stake held by Nabi has increased by $20.6 million since the start of the year, climbing from $349.1 million on Jan. 5 to $369.7 million at the time of writing.
The wealthy executive, thanks to the recent stake surge, remains a prominent figure in the dynamic beauty sector and stands as one of the richest African-born executives globally — Nabi continues to be a visionary leader with a significant impact on the global beauty industry.