The unit, however, has seen falling sales in the last four quarters, prompting Coty's decision to reduce its exposure to the professional segment. Coty also owns other cosmetic brands such as Rimmel and Max Factor as well as skin care firms Lancaster and Philosophy but has struggled for years to integrate such a wide range of products. Its 2016 purchase of a slice of Procter & Gamble's beauty business, which included Covergirl and Max Factor, forced it to take billions of dollars in write-downs and outline a four-year restructuring plan. Its debt load stood at $7.7 billion at the end of June. Coty's boss Pierre Laubies said in October the sale would improve the company's ability to invest in areas with significant growth potential, but added that proceeds from any deal would be used to pay down debt and return excess cash to shareholders.