Coty’s Newest CEO Spent 20 Years At L’Oreal Before Founding ‘New-Age’ Skin-Care Firm Orveda
Sue Nabi’s success at L’Oreal, where she headed the firm’s global L’Oreal Paris and Lancome businesses, her skin-care savvy as founder of the luxury, “clean, green and vegan” Orveda, and her experience as a career champion of diversity were major draws for Coty, where she begins as CEO on 1 September.
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Doubts about Coty’s “viability” have melted away with the return to growth of its Consumer Beauty division and momentum in its burgeoning skin-care and prestige cosmetics businesses. Coty now aims to beat the market with 6% to 8% compound annual revenue growth from fiscal 2022 through 2025.
Sue Nabi, who started as CEO at Coty in September, believes the company can do better than CoverGirl’s previous relaunch, which championed individual expression with the somewhat head-scratching tag, “I Am What I Makeup.” The brand’s future is in “clean,” she suggested during Coty’s first-quarter earnings call.
The highly anticipated solution to Coty’s biggest problem, new CEO Sue Nabi, addressed analysts for the first time during the firm’s 27 August fourth-quarter and full-year earnings call. Coty is counting on Nabi’s brand turnaround savvy and Asian market experience gained at L’Oreal, as well as her entrepreneurial vision, to make the company profitable again in the new fiscal year and fuel forward growth.