François Coty, French businessman and publisher, founded Coty, Inc. (d. 1934)
François Coty (born Joseph Marie François Spoturno in Corsica ; 3 May 1874 – 25 July 1934) was a French perfumer, businessman, newspaper publisher, politician and patron of the arts. He was the founder of the Coty perfume company, today a multinational. He is considered the founding father of the modern perfume industry.
In 1904, his first success, fragrance La Rose Jacqueminot launched his career. He soon started exporting perfumes from France, and by 1910 he had subsidiaries in Moscow, London and New York. During the 1917 Russian Revolution, his assets in Moscow, which consisted of stocks and funds were confiscated by the Soviet government, making him a lifelong enemy of Communism.
By the end of World War I, his financial success made him one of the richest men in France, allowing him to act as patron of the arts, collect works of art, historic homes and seek to play a political role.
In 1922, he gained control of daily newspaper Le Figaro. To check the growth of socialism and Communism in France, he founded two other daily papers in 1928.
Fearing the spread of communism, he subsidized various right-wing movements. In 1933, faced with a political class that he considered incapable, he published a reform of the State and founded his own movement Solidarité française, which became more radical after his death.
At the time of his death, at age 60, his fortune was greatly diminished as a result of his divorce, the high cost of running his press empire and the repercussions of the economic crisis of 1929.
1874May, 3
François Coty
Choose Another Date
Events on 1874
- 28Feb
Tichborne case
One of the longest cases ever heard in an English court ends when the defendant is convicted of perjury for attempting to assume the identity of the heir to the Tichborne baronetcy. - 15Mar
Second Treaty of Saigon
France and Viet Nam sign the Second Treaty of Saigon, further recognizing the full sovereignty of France over Cochinchina. - 27May
Gert Alberts
The first group of Dorsland trekkers under the leadership of Gert Alberts leaves Pretoria. - 7Nov
Thomas Nast
A cartoon by Thomas Nast in Harper's Weekly, is considered the first important use of an elephant as a symbol for the United States Republican Party. - 25Nov
Panic of 1873
The United States Greenback Party is established as a political party consisting primarily of farmers affected by the Panic of 1873.