Coty is primarily known for its blockbuster celebrity fragrances from stars including Sarah Jessica Parker and Gwen Stefani and designer Marc Jacobs, but the company has been broadening its reach substantially with acquisitions of skincare, color cosmetics and nail care companies.
"We built up the company to have a leading position in fragrance. Now we're building up a leading position in color cosmetics," Coty's CEO Bernd Beetz said in an interview with the New York Times.
OPI is said to be valued at about $1 billion dollars. The purchase would round out Coty's current nail care line up of Sally Hansen and Rimmel.
Wth clever nail color shade names including Lincoln Park After Dark and Kinky in Helsinki, StyleList is wondering if "Coty Check" might be next.
In other nail news, check out the icy pale blue nail lacquer from Chanel's Côte D'Azur 2010 Cruise Collection.