By Breakingviews
Coty (COTY) is trying regurgitation as a cure for indigestion. The perfume firm said on Monday it might sell some of the beauty brands it bought in 2015 from Procter & Gamble (PG) for $12.5 billion. Offloading a unit that includes the professional lines of Wella and Clairol would make the troubled firm easier to manage and reduce its burdensome debt pile. But the U-turn by the company - and owner JAB - makes the long-term strategy harder to decipher.
The P&G purchase overwhelmed Coty. The combined firm sells perfumes, shampoo, beauty appliances,