Utilize the input text as a context reference, choose the right relationship between Clairol 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.

Perfume maker Coty Inc made news in July, entering an agreement with Procter & Gamble to buy 43 brands including Wella and Clairol for $12.5 billion.

Answer: parent_organization