Coty Sets Out Comprehensive Strategy to Double Skincare Sales by FY25
- Company to Host Investor Event at its Monaco Skincare R&D and Manufacturing Center of Excellence Today
- Details Plan to Achieve Skincare Sales of $500m-600M by FY25 and Accelerate Growth in FY26 and Beyond
- Unveils New Launches and Expansion Plans for Key Skincare Brands
- Raises 1Q23 Revenue and Gross Margin Guidance
- Reiterates FY23 & Medium-Term Growth Outlook
NEW YORK--(BUSINESS WIRE)-- Coty Inc. (NYSE: COTY) (“Coty” or “the Company”), one of the world’s leading beauty companies, today will host an in-person Investor Event at Coty’s Monaco skincare R&D and manufacturing facility. Monaco is also the manufacturing center of excellence for Coty’s flagship Lancaster skincare brand. The main presentations will be webcast live starting at approximately 2:00 P.M. CET or 8:00 A.M. EST for around 90 minutes.
At the event, Coty will provide a comprehensive update on the Company’s Skincare strategy, one of Coty’s six strategic growth pillars, with a focus on its Prestige brands. The company will detail its distinct and superior skincare intellectual property, upcoming operational and portfolio milestones, early evidence of success, and Coty’s financial goals through FY25 and beyond.
Sue Y. Nabi, Chief Executive Officer of Coty, said: “Coty’s skincare portfolio is one of the most exciting growth areas in our business, with revenues on track to double to $500M-600M by FY25. Our strategy is underpinned by world-recognized brands serving key white space opportunities and consumer needs, 75-years of scientific innovation and leadership, superior patents and distinct intellectual property, and a large and growing team of skincare experts across the organization. We have begun our skincare revolution in Hainan and mainland China, where we are already seeing proof that our brands, formulations, and communication can win over consumers. At the same time, our research & development efforts are focused on the fastest growing consumer needs and health trends. All of this gives us confidence that we can capture significant opportunities in the $150 billion global skincare market.”