Coty Teases ‘Game Changing’ Clairol Innovation During Q1 Call
This article was originally published in The Rose Sheet
Firm is optimistic that a planned big-impact innovation in its upcoming Clairol reboot will help revive its ailing consumer business. Execs told investors on a first quarter earnings call that the division is showing early signs of stabilizing, citing in particular the positive response to its recent CoverGirl relaunch.
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L'Oreal Luxe's 10.5% like-for-like growth in fiscal 2017 substantially overshadowed the 2.2% LFL improvement in the firm's Consumer Products unit. "Maybe in the mass [channel] in the U.S. for the past two or three years, we didn't give consumers enough desire to want to buy beauty," but the company is committed to accelerating innovation and bringing consumers back, CEO Jean-Paul Agon says
For months, Coty leadership has been teasing a "game-changing" Clairol innovation that it expects to reinvent home hair coloring while making a beauty brand of what has been largely "functional" to date. Senior R&D Director Jeff Miller discusses the restaged, "allergy gentle" Clairol Nice'n Easy line, available now at Target.com and slated for a wider rollout in February.
Coty Inc. is championing uniqueness, authenticity and "unapologetic" self-expression with its CoverGirl relaunch, officially announced Oct. 10. With its new tagline "I Am What I Makeup," CoverGirl joins a growing number of brands that are distancing themselves from conventional beauty norms and putting each and every consumer at the receiving end of their empowerment messages.