Beauty bits: Marc's making makeup, Avon rejects $10B offer by Coty

Marc Jacobs is giving makeovers now, too. Sort of.

According to WWD, Jacobs is working with Sephora to release a color cosmetics line. He says, "Anything to me that is part of the joy, the ritual, of getting dressed — things that women enjoy like bags, shoes, fragrance, clothes, makeup — that's what fashion's about for me."

Here's what products to potentially expect: "The idea of choosing a color for your lip, or an eyeliner — it's just such a delight," he said. "We currently are working on defining what Marc Jacobs cosmetics will be, what they'll say, what makes them distinctive. I think that will take some time, but the first meeting was good."

The timeline for the release of the cosmetics line is unknown. However, in the meantime, Jacobs' scent titled Dot will launch this summer by Coty Prestige.

Speaking of Coty,  Avon Products Inc. rejected a $10 billion buyout offer from the New York-based beauty company on Monday. Coty has picked up burgeoning beauty brands like OPI and Philosophy Inc. in recent years, and according to AP, the growing company was "looking to capitalize on Avon's business woes."