FORTUNE FROM PERFUME

Greymouth Evening Star, 11 September 1934, Page 8

FORTUNE FROM PERFUME

M. COTY’S RISE TO FAME. M. Francois Coty, the perfume magnate, whose death was reported, on July 25, was known to fame under an adopted, name. He was a Corsican, born in Ajaccio-, and started life as Jaseph Francois Spoturno. In 1900, when he married Mlle. Le Baron, he was trimming feathers for women’s hats in Paris, and making £6 a month. Some time after this he established himself in Grasse as a dealer in floral essences. The story of his first success in the scent business has been variously told. The best authenticated version is that his wife was despatched to Paris to try and fix up with one of the large shops there an order for a regiilar supply of flowers from the Riviera. £3,00,000 FOR WIFE. At. Its height his fortune was probably tho largest in France. It was said that in 1928 he disposed of half his American interests for £10,000,000. Later on he professed in the law courts that his wealth had largely vanished in the depression. In 1929 he was divorced, and in the absence of a marriage settlement a sum of £3,216,000 was assigned to his wife as her share of his fortune. There was a great deal of litigation a year cr t.wo ago over this sum, a series of actions being brought by the lady for the payment of the last £1,040,000', which M. Coty disputed on the ground of changed financial circumstances. Meanwhile, M. Coty had launched out into newsaper proprietorship. He acquired control of the “Figaro,” and in March, 1928, he founded a new daily with the democratic title of “Ami du ‘Peuple,” which he issued at less than half the price of his rivals. There fob lowed a very violent newspaper war in Paris.

Suits and countersuits were brought on allegations of unfair competition' and boycott. In the courts M. Coty, had the better of matters, but in practice the “Ami du Peuple” is now soldi at the same price as the others.. and M. Coty lost his control of the “Figaro” in October, 1933. A second newspaper which he sponsored, the “Ami du Peuple du Soir,” came to an end-in 1934.

M. Coty had political ambitions, and 1 his newspaper adventures were part of 1 that campaign.' Unfortunately, he hud no very definite political doctrine, j His views were those of the man in l I the street that something ought to be done about it all, without knowing! exactly what-the “something” was; i He was-antfißolshevist, with Fascist leanitigs; an'd'flts- of anti-Semitism. Bitt ■where he had’hoped' to bh a‘ political power he succeeded only in being a pamphleteer.