What is the relationship between Coty and Paris in the context of the input sentence. Choose an answer from: 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.

Founded in Paris in 1904, Coty is a pure play beauty company with a portfolio of well-known fragrances, color cosmetics and skin & body care products sold in over 130 countries and territories.

Answer: location_of_formation