Welcome to our dedicated page for Coty news (Ticker: COTY), a resource for investors and traders seeking the latest updates and insights on Coty stock.
Coty Inc. (NYSE: COTY), a global leader in beauty products across fragrances, cosmetics, and professional salon solutions, maintains this dedicated news hub for stakeholders. Access verified press releases and market analysis covering financial results, brand partnerships, product innovations, and corporate developments.
This resource provides investors with timely updates on earnings reports, strategic acquisitions, and leadership changes while offering industry professionals insights into Coty's position within the competitive beauty landscape. Content spans three key areas: financial performance (quarterly earnings, dividend announcements), operational updates (supply chain improvements, sustainability initiatives), and market expansion (new product launches, geographic growth).
Bookmark this page for direct access to Coty's official communications and third-party analysis of material developments affecting the company's valuation and market strategy. Regular updates ensure you maintain current awareness of factors influencing COTY's position in the prestige beauty sector.
Coty Inc. (NYSE:COTY) has priced $900 million of 5.000% senior secured notes due 2026, up from the previously announced $750 million. The offering will close on April 21, 2021, pending customary conditions. These senior secured notes will be guaranteed by Coty’s subsidiaries and secured by first priority liens. Proceeds will be used to repay part of existing term loans and cover associated costs. The notes are not registered under the Securities Act and are offered only to qualified institutional buyers.
Coty Inc. (NYSE: COTY) has announced its plan to offer up to $750 million in senior secured notes in a private transaction. The offering will be subject to market conditions, with terms determined at pricing. These notes will be senior secured obligations, guaranteed by subsidiaries, and secured by first priority liens on existing collateral. Proceeds will be used to repay part of Coty’s outstanding term loans. This offering is not registered under the Securities Act and is intended for qualified institutional buyers.
Coty Inc. (NYSE: COTY) has signed a letter of intent with LanzaTech to integrate sustainable ethanol produced from captured carbon emissions into its fragrance products. This partnership aims to significantly lower the environmental impact of Coty’s fragrances by replacing traditional ethanol, sourced from agricultural materials, with carbon-captured ethanol, promoting biodiversity and reducing water usage. Coty aims to have the majority of its fragrance line using this sustainable ethanol by 2023. This initiative supports Coty's broader sustainability strategy, including a 30% reduction in absolute CO2 emissions by 2030.
Coty Inc. (NYSE: COTY) reported improved financial results for Q2 FY21, achieving an adjusted operating income of $188.4 million, a 7% year-over-year increase. The company's fixed cost savings reached approximately $80 million for the quarter, raising the FY21 savings target to $300 million. Despite a 16% revenue decline due to COVID-19, the Prestige segment showed positive trends with significant retail gains in the U.S. and China. Free cash flow totaled $389.4 million, and financial net debt decreased to about $4.8 billion.
Coty Inc. (NYSE: COTY) has launched a flagship Gucci Beauty store on Tmall Luxury Pavilion, enhancing its reach to over 770 million Chinese consumers. This store will feature a full range of Gucci Beauty products, including popular items like Rouge à Lèvres Mat lipstick. Coty reported a 40% growth in prestige cosmetics retail sales in China last quarter, with Gucci Beauty achieving double-digit growth. The collaboration aims to elevate consumer engagement and streamline the shopping experience for Chinese luxury buyers.
Coty Inc. (NYSE: COTY) announced the planned closure of its manufacturing site in Cologne, Germany, as part of a consolidation of global fragrance operations. Approximately 300 employees will be affected, with the closure expected by Summer 2022. The decision aims to enhance operational efficiency and reduce overcapacity, which has been exacerbated by COVID-19. Coty targets $600 million in cost reductions, with $80 million already achieved in Q1 FY2021. The closure is a step towards a more competitive and streamlined business model.
Coty Inc. (NYSE: COTY) appointed Stéphane Delbos as Chief Procurement Officer, effective February 1, 2021. Delbos, who has been with Coty since 2010, will lead the company's multi-year procurement strategy aimed at achieving $600 million in cost reductions by FY2023. Coty reported $80 million savings in Q1 towards this target. The transformation agenda is crucial for Coty’s long-term growth amidst the ongoing challenges posed by COVID-19. Delbos joins the senior leadership team and will report to Chief Transformation Officer Gordon von Bretten.
Coty Inc. (NYSE: COTY) announced a strategic acquisition of a 20% stake in Kim Kardashian West's business for $200 million, finalizing the deal in Q3 fiscal year 2021. This partnership aims to expand Coty's portfolio into new beauty categories, including a skincare line expected to launch in fiscal year 2022. CEO Sue Y. Nabi emphasized leveraging their strengths for mutual growth, while Kardashian West will guide creative initiatives. The collaboration targets enhancement of a direct-to-consumer beauty brand through established retail and digital channels.
Coty Inc. (NYSE: COTY) has announced the appointment of Anna Adeola Makanju and Mariasun Aramburuzabala Larregui to its Board of Directors, effective December 18th. Makanju brings over 15 years of experience in global policy, while Aramburuzabala serves as CEO of Tresalia Capital and holds various board positions.
The board now consists of a majority of women, with seven out of 13 directors. Former director Paul S. Michaels stepped down after five years of service. CEO Sue Y. Nabi expressed excitement about the new additions, emphasizing their passion for beauty.
