Coty’s FY 2023 Will Be ‘Year Of Skin Care’; Reinstated ‘Powerhouse’ Says Growth Engines Are Fired
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.
You may also be interested in...
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.
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.
There’s an increasingly familiar pattern to leading personal-care manufacturers’ benzene troubles in the states: Independent testing lab Valisure flags their product(s) as contaminated with the carcinogen; class actions file in federal courts; and, frequently, recalls are undertaken “out of an abundance of caution.”