Latest From Coty Inc.
Procter & Gamble has entered a new growth phase that leadership says validates its portfolio rationalization choices. The firm’s Beauty business, lighter by more than 40 brands that went to Coty in October 2016, achieved 4% organic growth in fiscal 2019. CEO David Taylor offered perspective on this "disrupted" P&G at the Barclays Global Consumer Staples Conference.
Historically, Coty has been too dependent on promotion versus advertising and shy about taking pricing – but no longer, says CEO Pierre Laubies. Along with strategic innovation and portfolio optimization, stronger advertising behind leading brands is key to re-energizing the firm’s Consumer Beauty business, the exec said, noting, “Our consumers need to be reminded permanently of the strength of our brands.”
Coty purchased a 60% stake in Younique in early 2017, touting the startup as “one of the most engaging and fastest-growing e-commerce companies in beauty.” However, growth in the social-selling business has slowed over the past year and “presenter” levels have declined despite enhancements to Younique’s compensation program, making it an not-so-surprising discard in Coty’s simplification effort.
Blackmores and Well Pharmacy appoint new CEOs, German industry association elects deputy chair and German firm Klosterfrau brings in new Germany OTC head.
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