Algerian-born French entrepreneur and business executive Sue Youcef Nabi (Sue Nabi) has witnessed a significant decrease in the market value of her stake in Coty Inc. over the past forty-nine days amid the recent decline in the shares of the multinational beauty company on the New York Stock Exchange (NYSE).
Nabi’s stake in Coty has declined by $83.6 million over the last 49 days, reflecting reduced buying interest in Coty among investors on the NYSE. This follows the $20.6 million surge recorded between Jan. 5 and Jan. 11, when her stake climbed from $349.1 million to $369.7 million.
Coty’s shares dip 20.81 percent, market cap tumbles below $10 billion
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, and nail care, as well as professional and retail hair care products including ownership of around 77 brands as of 2018.
Coty shares on the NYSE have declined by 20.81 percent in recent times, dropping from $13.26 on Feb. 27 to $10.50, thus pushing the group’s market capitalization below $10 billion.
Nabi, who is 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 $320 million.
With the recent plunge in the group’s share price, the market value of Nabi’s stake has slumped by $83.64 million, declining from $401.84 million on Feb. 27 to $318.20 million.
Despite the decline, Sue Nabi remains a key player in the beauty industry. As Coty’s CEO, her visionary leadership continues to significantly impact the global beauty landscape. Additionally, she is one of the wealthiest African-born business executives globally.
