Coty’s First Refillable Fragrance Among 2022 Sustainability Highlights
Chloé Rose Naturelle Intense, Coty’s first refillable fragrance, makes its 2022 sustainability report along with green science to replace D5 silicone and the company’s partnership with LanzaTech NZ to create fragrances using ethanol made from captured carbon emissions.
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Fragrance component shortages and COVID-19 restrictions in China were among factors that dragged on Coty’s Prestige business growth in the first quarter of fiscal 2023. Nevertheless, the division’s sales rose 7% like-for-like, while Consumer Beauty grew 12% on the strength of restaged brands.
The EcoBeautyScore Consortium, dedicated to launching an environmental scoring system for products, has grown to 36 cosmetics and personal care firms as well as trade groups across four continents, L’Oréal Groupe reports after unveiling the effort in September. A prototype is targeted for the end of 2022.
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.