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Coty Inc. (NYSE: COTY) is one of the world's largest and most well-established beauty companies. With approximately $9 billion in revenue, Coty is dedicated to celebrating and liberating the diversity of consumers' beauty. The company's strong entrepreneurial heritage has led to the creation of an iconic portfolio of leading beauty brands.
Core Divisions
- Coty Consumer Beauty: This division focuses on color cosmetics, retail hair coloring and styling products, body care, and mass fragrances. Notable brands under this segment include CoverGirl, Max Factor, and Rimmel.
- Coty Luxury: This division is dedicated to prestige fragrances and skincare, representing brands such as Calvin Klein, Marc Jacobs, Hugo Boss, Gucci, and Philosophy.
- Coty Professional Beauty: This segment aims to serve salon owners and professionals in hair and nail care, featuring brands like Wella Professionals and Sebastian Professional.
Market Position
Coty is the global leader in fragrances, second in professional salon hair color and styling, and third in color cosmetics. The company generates about 59% of its sales from fragrances, 28% from color cosmetics, 8% from body care, and 5% from skincare.
Strategic Partnerships and Collaborations
Coty licenses luxury and high-end brand names including Gucci, Burberry, Hugo Boss, Davidoff, and Calvin Klein for its fragrance business. In the consumer cosmetics segment, the company focuses on mass brands acquired over time, such as CoverGirl, Max Factor, Rimmel, Sally Hansen, and Bourjois. Coty also collaborates with social media celebrities like Kim Kardashian and Kylie Jenner to launch makeup products under their names.
Global Reach
Coty operates worldwide, generating close to 45% of its sales from Europe, 42% from the Americas, and 13% from the Asia-Pacific region. The company's controlling shareholder is the German investment firm JAB, holding a 53% stake.
Stay updated with the latest news and developments from Coty Inc. to understand its market performance and strategic initiatives.
Coty Inc. (NYSE:COTY) announced a registered public secondary offering of 50,000,000 shares of its Class A common stock, all sold by KKR Rainbow Aggregator L.P. Coty will not sell any shares or receive any proceeds from this offering. Morgan Stanley is the underwriter for this transaction. The offering will follow an effective registration statement and a prospectus. Interested parties can access relevant documents through the SEC's website. This press release does not constitute an offer or solicitation to buy securities in any jurisdiction where it would be unlawful.
Coty Inc. reported revenues of $4.63 billion for FY21, exceeding guidance with 89.6% YoY growth in Q4. The Americas and Asia Pacific regions saw significant recovery, particularly in prestige products. Coty's e-commerce sales surged, contributing to a gross margin of 60%. Despite a reported operating loss of $48.6 million for FY21, adjusted EBITDA reached $760.4 million. The company is on track for low teens sales growth in FY22 and plans a partial IPO of its Brazil business to enhance growth. Cost savings exceeded expectations with $330 million in FY21.
Coty Inc. (NYSE: COTY) has appointed Constantin Sklavenitis as Chief Prestige Brands Officer, effective September 6. Sklavenitis comes from M·A·C Cosmetics, where he was Senior Vice President and General Manager of North America. He will report to CEO Sue Y. Nabi and oversee strategic growth in prestige makeup and skincare. Nabi highlighted Sklavenitis' extensive experience of over 24 years in beauty and retail as a critical asset for enhancing Coty's prestige offerings. This leadership change aims to bolster Coty’s global market share in luxury fragrances and cosmetics.
Coty Inc. (NYSE: COTY) is relaunching Kylie Cosmetics with clean, vegan formulas and new packaging. The brand will be available globally at select retailers and on a new Direct-to-Consumer website starting July 15. Kylie Jenner emphasizes the use of high-performance ingredients without harmful additives. The new product range includes long-lasting lip kits and blush that enhance skin health. Coty aims to cater to Gen Z with this revamped line, which will also debut at Ulta Beauty in August, allowing consumers to shop their entire beauty routine in one place.
Calvin Klein, a subsidiary of PVH Corp, launched a global advertising campaign for the new men's fragrance Calvin Klein Defy, featuring actor Richard Madden. The campaign represents a journey of defiance, showcased through Madden's authentic moments. The fragrance, crafted by renowned perfumers, combines citrus, vetiver oil from Haiti, and amber notes, encapsulating modern masculinity. It's available in select countries and will roll out globally. To celebrate, a Twitch tournament will offer consumers a chance to engage with top streamers and win prizes.
Coty Inc. (NYSE: COTY) announces the departure of Chief Supply Officer and Head of R&D, Richard Jones, effective June 30. Jones has contributed significantly to Coty's supply chain efficiency, particularly during the pandemic. CEO Sue Y. Nabi lauds his impact and mentions that Coty will split his role into two separate positions to enhance focus on Supply Chain and R&D. New appointments will be revealed shortly, while current leaders will temporarily take over his responsibilities.
Coty Inc. (NYSE: COTY) announced the pricing of €700 million of 3.875% senior secured notes due 2026, increasing from the previously planned €500 million. The offering is set to close on June 16, 2021, subject to customary conditions. The proceeds will be used to repay portions of existing term loans and related expenses. These notes will be senior secured obligations and will be guaranteed by Coty’s U.S. subsidiaries. They will not be registered under the Securities Act, with sales limited to qualified institutional buyers and non-U.S. persons.
Coty Inc. (COTY) announced an amendment to its credit agreement to extend the maturity of a portion of its revolving loan commitments. The key highlight is the creation of a new class of revolving loan commitments totaling $700 million, set to mature in April 2025. This amendment is subject to customary closing conditions, including a requirement to reduce existing revolving loan commitments by no less than $700 million prior to September 30, 2021.
Coty Inc. (NYSE: COTY) has announced plans to offer up to €500 million in senior secured notes in a private transaction. The offering is subject to market conditions, with the key terms to be decided at pricing. These notes will be guaranteed by Coty's subsidiaries and will hold first priority liens on collateral securing existing credit facilities. Proceeds will be used to repay term loans and associated costs. The offering is aimed at qualified institutional buyers and will not be registered under U.S. securities laws.
Coty Inc. (NYSE: COTY) has promoted Andrew Stanleick to Chief Executive Officer (CEO) of its beauty business, which includes brands created by Kylie Jenner and managed by Kim Kardashian West. Stanleick, who also serves as Coty EVP Americas, aims to enhance global expansion and product innovation. CEO Sue Y. Nabi praised Stanleick’s experience in business development. The interim CEO role held by Kris Jenner will continue, focusing on strategic partnerships. Stanleick plans to refresh Kylie’s cosmetics line, enhance the DTC platform, and ensure sustainable product offerings.
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