Coty Inc. (NYSE: COTY) today announced that its Board of Directors has approved a $700 million share repurchase authorization of its Class A common stock. This authorization includes any amounts remaining under the existing stock repurchase authorization.

“We continue to remain focused on returning capital to our shareholders through share repurchases and dividends while continuing to invest in our business. Our strong financial position and operating cash flow enabled us to continue with, and increase the size of, our share repurchase program. Today's announcement builds upon our continuing commitment to our shareholders,” stated Patrice de Talhouët, Coty Executive Vice President and Chief Financial Officer.