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. reports recurring developments in its global beauty business, spanning prestige fragrances, color cosmetics, skin and body care, and mass-market beauty products. Company updates frequently cover sales trends by division, cash flow, debt reduction, product launches and campaigns for licensed fragrance franchises such as Calvin Klein, Hugo Boss, Burberry and Gucci.
News also reflects Coty's strategic and governance agenda, including the Coty.Curated framework, board refreshes, executive leadership changes and technology initiatives such as enterprise AI adoption. The company sells prestige and mass-market products in more than 120 countries and territories, giving its updates a recurring focus on brand investment, regional performance and portfolio priorities.
Coty Inc. (NYSE: COTY) plans to offer up to $500 million in senior secured notes through a private transaction, involving its subsidiaries, HFC Prestige Products, Inc. and HFC Prestige International U.S. LLC. The notes will be secured by first priority liens on collateral that also secures existing credit facilities. Proceeds from the offering will be used to repay euro-denominated loans and a portion of the senior secured revolving credit facility due in April 2023. The offering is aimed at qualified institutional buyers and will not be registered under the Securities Act.
America Ferrera joins COVERGIRL as the latest brand ambassador, promoting a message of self-acceptance and embracing natural beauty. Known for her roles in 'Ugly Betty' and 'Superstore,' Ferrera reflects the brand's values of authenticity and inclusivity. COVERGIRL aims to resonate with diverse audiences, including the LatinX community. Ferrera's upcoming campaigns are yet to be announced, and her partnership emphasizes the brand's commitment to accessible beauty.
Coty Inc. (NYSE:COTY) has announced a licensing agreement with Orveda, an ultra-premium skincare brand originating from France. This deal enhances Coty's skincare portfolio with vegan and microbiome-focused products, capitalizing on the growing demand in the luxury beauty market. Orveda includes a range of award-winning skincare products known for high-quality active ingredients. The integration into Coty's Prestige portfolio aims to boost global distribution, especially in China, while Orveda's co-founder will continue to lead the brand under Coty.
Coty Inc. hosted an Investor Day at the New York Stock Exchange, announcing plans for above-market growth through FY25. The event highlighted key strategic advancements, including major new product launches in skincare and enhanced cost savings targets, which are projected to drive profit expansion. Coty aims for adjusted EBITDA of at least $900 million for FY22, with anticipated annual growth in net revenues of 6% to 8%. The company is focused on leveraging opportunities in prestige beauty and e-commerce while also committing to sustainability objectives.
Coty, Inc. (NYSE: COTY) has appointed Dr. Shimei Fan as Chief Scientific Officer, effective January 3, 2022. Dr. Fan, a 30-year veteran in the beauty industry, will lead R&D and sustainability initiatives from Amsterdam. With experience at Shiseido, Beiersdorf, and Unilever, she will focus on enhancing Coty's skincare portfolio and advancing sustainable product development. CEO Sue Y. Nabi highlighted that Dr. Fan's appointment reflects Coty’s commitment to sustainability as a driver of beauty innovation and future success.
Coty Inc. (NYSE: COTY) announced the sale of KKR’s remaining 2.4% stake, equivalent to around 20 million common shares. Following this, Coty’s convertible preferred shares total approximately $146 million. The transaction simplifies Coty’s capital structure, resulting in annual dividend savings of about $11 million, totaling $77 million when combined with prior sales. The deal is expected to slightly benefit Coty’s FY22 adjusted EPS, maintaining guidance of $0.19-0.23. CEO Sue Y. Nabi highlighted progress in unlocking shareholder value.
Coty Inc. (NYSE: COTY) has entered into an agreement to sell approximately 4.7% of its stake in Wella to KKR for $215.7 million. Post-transaction, Coty will own 25.9% of Wella. This move simplifies Coty's capital structure and is expected to generate around $14 million in annual cash savings on dividends. The transaction reflects a 50% increase in Wella's equity value since Coty's previous sale in December 2020. Coty aims to enhance its balance sheet and unlock value as part of its strategic objectives.
Coty Inc. reported a strong first quarter of fiscal 2022 with revenues increasing by 22% to $1.37 billion, exceeding guidance. Prestige business saw a remarkable 35% growth, particularly in fragrances. E-commerce grew by 23%, while Consumer Beauty rose by 4%. Gross margins expanded by 460 bps to 63.2%, enabling a significant increase in marketing spend. The company raised its FY22 sales outlook to low-to-mid teens growth and anticipates at least $900 million adjusted EBITDA, showcasing the effectiveness of its strategic initiatives.
Coty Inc. (NYSE: COTY) will host its Investor Day on Thursday, November 18, 2021, starting at 8:30 a.m. ET. This event will take place at the New York Stock Exchange and will be available via live webcast. The leadership team will present the company’s vision, strategy, and financial outlook, followed by a Q&A session. Due to COVID-19 safety measures, in-person attendance is limited to fully vaccinated individuals. The livestream can be accessed on Coty's Investor Relations website.
Coty Inc. announced a definitive agreement to sell a 9% stake in Wella to KKR for $426.5 million, redeeming half of KKR's convertible preferred shares, which reduces KKR’s ownership in Coty to 5.2%. This transaction reflects a 50% appreciation in Wella’s value since Coty’s prior sale. Coty retains a 30.6% stake in Wella, valued at $1.38 billion. The deal simplifies Coty’s capital structure, yielding an annual dividend savings of $26 million. The transaction is expected to close in Q2 FY22.