One of the biggest names in beauty may be planning its exit strategy. Coty, a major player in mass and prestige fragrances and cosmetics, is exploring a two-part sale. It would involve its luxury division and consumer division, according to industry sources.

A Coty spokesperson said the the company does not comment on rumor and speculation.

Potential suitors include Interparfums, according to one report. But the fragrance house is said to be interested in only a few fragrance brands, primarily Burberry and Hugo Boss. Interparfums held the Burberry license through 2013. Observers pointed out Coty’s hold on the Gucci fragrance and beauty license may be tenuous, as parent company Kering may bring them in-house when the license expires.

Coty’s consumer business includes mass brands like CoverGirl, Max Factor and Rimmel. Observers said finding a buyer for all of these names could be difficult. Complicating the process is the already-announced retirement of executive Chairman Peter Harf. in April, JAB, Coty’s largest investor, announced Harf would retire after 40 years at the company. He continues to serve as chairman of Coty’s board, while managing partners Joachim Creus and Frank Engelen keep leading JAB as co-CEOs. 

Rumors persist that CEO Sue Nabi may leave the company as early as this summer.

Coty was ranked No. 7 in The Top 50, Happi’s annual look at the biggest players in the US household and personal products industry.