Sue Nabi, an Algerian-born French entrepreneur and business expert, has seen her Coty Inc. shares soar by $27 million in the last 13 days.
This jump corresponds to a recent increase in the international cosmetics company’s stock price on the New York Stock Exchange (NYSE).
Nabi’s position in Coty has grown by $27 million in the last 13 days, indicating increased investor interest. This comes after her investment fell by $83.6 million between February 27 and April 16, from $401.8 million to $318.2 million.
François Coty started Coty in 1904, and it has since become a global leader in the fragrance market. It has the second-largest market share for hair color and style products, and the third-largest for color cosmetics.
The company and its subsidiaries create, make, market, and distribute fragrances, cosmetics, skincare, and nail care products. It also provides professional and retail hair care products, with over 77 brands as of 2018.
Coty’s shares have increased by 8.37% on the NYSE, from $10.63 on April 17 to $11.52 as of this writing. This spike has pushed the company’s market valuation past $10 billion, resulting in significant returns for shareholders such as Nabi.
Sue Nabi, who also developed the vegan skincare line Orveda, owns a huge 3.53 percent interest in Coty, equivalent to 30,304,786 shares worth roughly $350 million.
Because of the recent increase in Coty’s share price, the market value of Nabi’s interest has climbed by $27 million, from $322.14 million on April 17 to $349.11 million at the time of writing.
This spike underscores Nabi’s status as a key figure in the ever-changing beauty industry. As one of the world’s wealthiest African-born executives, her imaginative leadership continues to have a tremendous impact on the industry.