Utilize the input text as a context reference, choose the right relationship between Wella and Coty from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

And we now present continuing operations being the former Coty less Wella revenues and direct costs and directly attributable costs.

Answer: owned_by