Coty Mulls Divestiture Of Non-Power Brands, ‘Fading’ Celeb Scents
This article was originally published in The Rose Sheet
Coty Inc. acknowledges that some celebrity scents are “fading away” and the firm will consider selling or eliminating certain non-power brands, which collectively make up 30% of its portfolio. The firm’s first-quarter net sales were flat on a reported basis, weighed down by underperforming fragrances and softness in body care, while color-cosmetics sales increased 10% on a like-for-like basis.
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