The company Coty, one of the largest cosmetic manufacturers, was planning to sell several brands. However, due to the outbreak of the virus COVID-19 all production facilities were closed, complicating the sales process. An effective solution should become drones.
Selling brands Coty Inc. can bring about eight billion U.S. dollars. To potential buyers, including Unilever and Henkel, could fully appreciate the value of the assets and to conduct their due diligence will be used quadcopters. This method will allow to implement plans for the sale of the assets of Coty, including the sale of cosmetic brands Wella and OPI in that time, as the quarantine conditions to prevent the possibility of personal meetings in the countries where factories are located.
Meetings and negotiations can be conducted over the phone or through video, and you can configure virtual data rooms. But for many of the transactions concerning the sale from the consumer sector to mining visit plants, factories and other industrial objects extremely important to assess the true value of the asset. Consultants on transactions across the world were forced to be creative to support the processes during the crisis. A growing number of transactions that also fall as companies focus their resources on maintaining their own activities and not on extension.
In recent years, drones have become widespread in many industries, and are currently testing them for deliveries FedEx Corp. and Walgreens Boots Alliance Inc. The device used for the inspection of cell towers and photographing homes for sale. But the technology is currently not sufficiently developed to allow drones to intervene in the space, where the flying other aircraft, so they, as a rule, should be kept in sight of the operator at low altitudes.
In European countries there are weak restrictions for drones than in the US. If the potential bidders will want to use drones over the us Coty, they will have to follow the strict rules of the Federal aviation administration, which usually require you to civil and commercial operators kept the aircraft in sight and within 120 feet from the ground.
While Coty still plans to move forward in the sales, logistical challenges, tough market conditions and a decline in business due to pandemic unable to slow down this process. Beauty salons, which are major clients Coty, forced to close, under the terms of the quarantine.