The beauty care company this week unveiled a deal to acquire Beamly, a digital marketing firm based in New York and London. Terms of the agreement weren’t disclosed.
Beamly specializes in driving audience growth and engagement for consumer brands across digital media, including online video. However, Coty noted, Beamly’s core capability suite centers on social media, where the firm has outperformed marketplace benchmarks.
Specifically, Coty and its licensors will benefit from Beamly’s social data benchmarking, content creation, content optimization and consumer engagement tools to deliver brand strategies, according to Coty. The company added that the Beamly team will work closely with Coty’s in-house marketing organization to provide enhanced digital marketing campaigns across consumer segments.
Plans call for Beamly to continue to be led by its chief executive officer, Jason Forbes. The Beamly New York team will be based in Coty’s New York office, and the London team will remain in its current headquarters. Camillo Pane, executive vice president of category development for Coty, will oversee the Beamly operation.
“The acquisition of Beamly will address the accelerating consumer shift in time spent from traditional media to real-time digital and social media channels,” Pane said in a statement. “Jason and his team have proven capabilities and a proprietary platform that successfully targets and engages Millennial consumers. Further, Beamly will help us to accelerate the growth of our e-commerce business and be a positive contributor as Coty advances toward becoming a highly focused, pure-play leader and challenger in beauty.”
Digital channels will be key as Coty reaches a much bigger audience of beauty care consumers as a result of its deal to add 43 Procter & Gamble beauty brands. The agreement, expected to close in the second half of 2016, ramps up Coty’s presence in such areas as cosmetics and hair care and stands to more than double its annual revenue to approximately $10 billion.
“With Coty,” Forbes stated, “we will enjoy the scale to accelerate product innovation, expanding across clients in a ‘mobile first’ marketplace.”