Coty news and archive

Coty expands global parental leave policy

Beauty company Coty is expanding its global parental leave policy to a minimum of 14 fully paid weeks for all employees, regardless of gender. The move expands the gender-neutral parental leave policy, established in 2022, as part of its continued efforts to set new benchmarks across its People pillar. In a statement, Coty said that the parental...

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Former Google exec joins Coty as chief digital officer

Pierric Duithot, a former executive of Google and director at Meta, has been named as the newest chief digital officer for beauty and cosmetics giant Coty. The conglomerate, which owns the likes of Kylie Cosmetics and Rimmel, announced the appointment via its official LinkedIn page, where it said Duthoit would be taking up the role from December...

ManagementFeatured

Coty raises outlook on strong Q1 results

Coty recorded net revenues of 1,641.4 million dollars, up 18 percent as reported and like-for-like driven by a 22 percent like-for-like increase in Prestige and a 10 percent like-for-like increase in consumer beauty. Given Coty's strong first quarter, the Company now expects FY24 like-for-like revenue growth of 9 to 11 percent, ahead of its...

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Coty follows through with dual listing, applies for Euronext Paris

After months of speculation and vague details of planning, beauty giant Coty has officially applied for the listing and trading of its Class A common stock on Euronext Paris. The American cosmetics group, which already trades on the New York Stock Exchange, revealed that it was mulling a dual listing back in May, stating at the time that such a...

Business

Coty reportedly moving ahead with Paris listing

Beauty giant Coty is believed to be going ahead with its second stock exchange listing, with it reportedly planning to enter the Paris Stock Exchange (PAR) as soon as the coming weeks. Details of the NYSE-listed group’s plans had initially been unveiled in a regulatory filing published in May, with the dual listing idea formulated around the...

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Coty raises FY24 sales outlook on strong demand

Coty has increased its guidance for the full year after seeing “strong momentum” in demand across key markets and categories, particularly in prestige fragrances. The beauty and cosmetics giant now expects FY24 core like-for-like sales growth of between 8 percent and 10 percent, up from its previous guidance of being at the top end of its...

Business

Kylie Jenner explores buying back stake in her cosmetics brand from Coty

Celebrity siblings Kylie Jenner and Kim Kardashian are exploring options to buy back ownership of their brands from Coty Inc., signaling strained relations between the entertainment figures and the beauty conglomerate. Kylie Jenner sold a 51 percent stake in Kylie Cosmetics for 600 million dollars in 2020. Similarly, Kim Kardashian's company,...

ManagementFeatured

Coty delivers strong Q4 sales and profit growth

Coty Inc. reported fourth quarter sales increased 16 percent to 1,351.6 million dollars or 17 percent on a LFL basis, ahead of its recently raised guidance of 12 to 15 percent. The company’s FY23 reported sales growth was 5 percent to 5,554.1 million dollars, which includes approximately 2 percent of negative impact from the Russia business...

Fashion |Beauty Featured

Marc Jacobs is returning to beauty

Marc Jacobs Beauty is set to make a comeback after the New York-based designer signed an expanded licensing deal with Coty, adding beauty to its successful fragrance partnership. In a statement, Sue Nabi, chief executive at Coty, said: “The expansion and extension of our longstanding agreement with the house of Marc Jacobs, now in its 20th year,...

Fashion

Coty renews long-term license partnership with Adidas

Beauty company Coty has renewed its long-term license agreement with sportswear giant Adidas to continue capitalising on the wellbeing and athleisure trend in beauty. The renewal will allow Adidas and Coty to continue to focus on personal care, wellness, sports, and sports lifestyle, with "pioneering research and innovation into areas such as...

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Coty to sell 150 million dollar stake in Wella

Cosmetics giant Coty has entered into an agreement to sell a 3.6 percent stake in hair care and beauty company Wella. The binding letter of intent to sell comes in regards to a portion of Coty’s entire stake in Wella, for which it currently holds 25.9 percent. Coty is planning to sell the 3.6 percent for 150 million dollars to investment firm...

Business

Kim Kardashian reportedly in talks to buy back beauty stake from Coty

Kim Kardashian is reportedly in discussions to repurchase the minority stake in her beauty company that she had previously sold to beauty and fragrance retailer Coty. As was reported by the Wall Street Journal, the exact sale price has yet to be determined, with the possibility remaining that the talks may not result in a final deal for the...