Coty to produce more sustainable fragrances – MarketWatch

Coty to produce more sustainable fragrances - MarketWatch

Coty Inc.
COTY,
-1.49%

said Wednesday that it has signed a letter of intent to partner with LanzaTech, a producer of sustainable ingredients, to produce eco-friendly fragrances. LanzaTech will provide sustainable ethanol, produced from industrial emissions. Coty aims to use the ingredient in the majority of its fragrances by 2023. Ethanol is key to fragrance production. Coty fragrance brands include Marc Jacobs, Chloe, Davidoff and Joop. Coty stock has rallied more than 13% for the year to date, but is down 10.3% for the past year. The S&P 500 index
SPX,
-0.81%

has gained nearly 29% for the las 12 months.

This content was originally published here.

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