Shares of cosmetics and fragrance giant Coty surged as much as 13% on Monday following reports that the company is exploring a potential breakup. According to multiple industry sources, Coty is in the early stages of a possible sale and is considering separating its luxury and consumer beauty divisions. Fragrance maker Interparfums has reportedly shown interest in acquiring Coty’s high-end perfume brands, including Burberry and Hugo Boss. Coty shares had fallen 32% YoY as of last Friday, underperforming rivals and major indexes. The company’s sales have declined for two consecutive quarters, with weaker consumer spending in North America and Asia.