Latest From Coty Inc.
Blackmores and Well Pharmacy appoint new CEOs, German industry association elects deputy chair and German firm Klosterfrau brings in new Germany OTC head.
The firm’s “realistic” four-year plan, unveiled 1 July, is designed “to build a better business … while we gradually prepare for growth.” The turnaround effort is expected to cost Coty $600m over the 2020-2023 period and includes a $3bn impairment charge, largely within its ailing Consumer Beauty unit, to be recorded in fiscal 2019.
Following a third quarter marked by continued Consumer Beauty declines and downturns in its Luxury and Professional segments, Coty will present its promised turnaround plan July 1. Company leadership has emphasized a need for portfolio streamlining and targeted advertising and promotional investments; its strategy on the innovation front has been less clear to date.
The investment community has reacted positively overall to Natura’s announced acquisition of Avon Products, which one analyst characterized as “sensible, not sexy.” Avon welcomes a new chapter in its 130-year history, while Natura Executive Chairman Roberto Marques touts the all-share transaction as “another exciting, decisive step to build a global, multi-brand, multi-channel, purpose-driven Group.”
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