Coty Touts ‘Huge Potential’ In China With Lancaster Skin Care, Rising Fragrance Opportunity
Executive Summary
New York-based beauty giant says its strategic bet on skin care in China is starting to pay off with strong consumer response to the recent launch of Lancaster Ligne Princiere. Meanwhile, the firm is ready to deploy its prestige fragrance brands strategically in the country as consumers gravitate increasingly to high-end perfumes.
You may also be interested in...
Coty’s Consumer Biz Leads Q1 As Supply Issues, China Lockdowns Offset Prestige Beauty Demand
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.
E.l.f. Facing Off Against Beauty Giants: Third Among Mass Market Brands As Sales Jump 78%
E.l.f. cosmetics climbed to No. 3 brand in US mass market cosmetics, up two slots from a year ago as it surpassed Revlon and CoverGirl. In its recent sales and earnings presentation, it announced sales in its fiscal 2023 fourth quarter jumped 78%.
Cosmetics Industry’s Preservatives Crisis Grows More Dire Under New Washington State Law
Washington State Governor Jay Inslee signed into law HB 1047 on 15 May, implementing the most aggressive cosmetics ingredient ban in the country. The Personal Care Products Council and Independent Beauty Association are concerned about a lack of alternative preservatives to replace targeted formaldehyde-releasing substances effectively and affordably and the law’s inconsistency with FDA over lead levels, among other impacts.