Coty Partners With Beauty Tech Firm As Growth Prospects Improve Under CEO Nabi
Firm recently announced a partnership with Taiwan-based augmented reality and artificial intelligence firm Perfect Corp., which should help drive digital engagement, bolster online sales, and provide data-driven personalization for brands including CoverGirl, Sally Hansen and philosophy, Coty says.
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Expecting China to evolve into the largest prestige beauty market in the world, Coty believes it is well-positioned to benefit as one of the fastest-growing beauty firms in the country as consumers increasingly flock to fragrance. The firm’s Asia Pacific sales grew 9% in the fiscal third quarter, reported, to $158.1m.
Rimmel Kind & Free follows CoverGirl Clean rollouts last year, which have helped to rejuvenate the iconic brand and endear it to a younger audience. Coty’s Consumer Beauty division recorded an 11% increase in FY 2022 second-quarter sales to $570.2m, reported, capturing global market share for the first time in five years.
Beiersdorf AG and dermanostic will connect German consumers with physicians for mobile app-based dermatological diagnoses and product recommendations. Meanwhile, Shiseido will be leveraging Revieve’s AI Makeup Advisor to “take control over the multi-touchpoint customer journey.”