Perfume maker Coty is seeking acquisition to expand its cosmetics business. The company, which markets Lancaster and Rimmel,  is looking to increase annual sales to $5 billion by 2010 from $3.3 billion in 2007, according to reports.

Some 82% of Coty's sales last year were generated in the perfume division, while make-up accounted for 15% and skin care products generated the remaining 3% of revenue. Coty is said to be one of several parties interested in buying French cosmetics company Clarins, along with L'Oreal, Estee Lauder and Procter & Gamble.