Revlon Alum Returns As CMO; Coty Consumer Beauty Appointments; Cosmetics Leadership News
Coty appoints new senior talent in its strategically prioritized Consumer Beauty division, while embattled Revlon brings back Martine Williamson to lead its global brand development activities. More news in brief.
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Revlon’s net sales fell approximately 20% to $477.1m in the third quarter, but the performance represents a sequential improvement compared with the second quarter, CEO Debra Perelman noted in a call with analysts. Having successfully closed a senior debt exchange offer on 13 November, Revlon will enter 2021 fully focused on strategic execution, she said.
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.
With many competitor programs on hold during the COVID crisis, L’Oreal dialed up its media investments and launched products over the summer that were postponed from the first quarter, resulting in a return to growth in the firm’s third quarter led by Professional Products and Active Cosmetics.