** Shares of CoverGirl parent Coty COTY.N up ~7% at $5.05 in afternoon trading
** Co is exploring potential sales of its luxury and consumer divisions separately, fashion trade publication WWD reports, citing sources familiar with the matter
** Co is in talks with Interparfums for its luxury business, which includes brands such as Hugo Boss and Burberry, report says
** Potential deal for COTY's fragrance business could come in the form of a strategic partnership or merger vs an outright acquisition
** Sticking point would be whether the group could find a buyer for its consumer division, which grapples with challenges like stiff competition, report says
** Coty did not immediately respond to Reuters request for comment
** Including session's moves, stock down about 26% YTD
(Reporting by Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com))
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