Coty Inc Stock Price, News & Analysis

Coty and Swarovski have announced a long-term beauty license agreement to develop, produce, and distribute fragrances. The partnership combines Coty's beauty expertise with Swarovski's crystal craftsmanship, aiming to create innovative beauty products. Swarovski, with its presence in over 140 countries through 2,300 boutiques, will leverage this partnership to enhance its brand presence in the beauty market while bringing its pop luxury essence to the industry.

The collaboration aligns with Coty's strategy of focusing on licenses with multi-category potential and will target key markets in EMEA, the Americas, and Asia. The first products under this licensing agreement are expected to launch in 2026.

Coty announced the early results of its cash tender offer for its 5.000% Senior Secured Notes due 2026. The company increased the tender offer from $250 million to $300 million, which was fully subscribed. As of November 20, 2024, $476,131,000 in principal amount was tendered, exceeding the Notes Cap. Due to oversubscription, Coty will accept notes on a prorated basis with an approximate proration factor of 63%. The Total Consideration is $1,000.00 per $1,000 principal amount, including a $30.00 early tender premium. The tender offer expires on December 6, 2024, with final settlement expected on December 10, 2024.

Coty Inc. (NYSE: COTY) has announced a cash tender offer to purchase up to $250 million of its outstanding 5.000% Senior Secured Notes due 2026. The tender offer includes a total consideration of $1,000 per $1,000 principal amount for notes tendered by the Early Tender Date of November 20, 2024. Additionally, Coty announced the full redemption of its €180.3 million 4.750% Senior Notes due 2026, scheduled for December 6, 2024. These actions align with Coty's deleveraging strategy to reduce total outstanding public debt.

Coty reported solid Q1 FY25 results with 2% reported revenue growth and 4.5% LFL growth. The company's performance was driven by strong growth in fragrances across all price points. Prestige segment revenues increased 5% reported and 7% LFL, while Consumer Beauty declined 3% reported with flat LFL growth. Gross margin expanded by 200 basis points to 65.5%. Reported operating income grew 20% to $237.8 million, while adjusted EBITDA remained flat at $360.1 million. The company maintained its FY25 outlook with expected LFL sales growth of 3-4% in H1.

Coty has released its FY24 Sustainability Report, highlighting significant environmental achievements and new commitments. The company has exceeded its 2030 Scope 1 and 2 emissions targets, achieving an 82% reduction since 2019, alongside a 65% reduction in air freight emissions. Key milestones include powering all owned facilities with 100% renewable electricity, recycling 85% of factory waste, and achieving gender balance in leadership ahead of schedule.

The company has set new ambitious targets, including reducing virgin plastic use by 60% by 2030, cutting water withdrawal by 25%, and ensuring 90% certification of fiber-based materials. Coty has also rejoined the Ellen MacArthur Foundation as a Network Member and launched sustainable packaging initiatives for key products.

Coty, a leading global beauty company, has announced preliminary Q1 results and reiterated its FY25 adjusted EBITDA outlook. Key points include:

- Q1 sales grew approximately 4-5% LFL, slightly below the prior estimate of 6% LFL
- Q2 LFL sales expected to grow moderately, with acceleration in the second half
- Q1 adjusted EBITDA expected to be roughly flat to moderately lower YoY
- FY25 adjusted EBITDA still projected to grow +9-11% YoY
- Cost reduction efforts re-accelerated to deliver savings above the initial FY25 target of $75M
- Targeting leverage close to 2.5x exiting CY24

The company noted slower growth in the U.S. market and tight inventory management by retailers, impacting sell-in versus sell-out performance in some markets.

Coty Inc. (NYSE: COTY)(Paris:COTY), a leading beauty company, is celebrating its 120th anniversary with a three-day fragrance event in Paris. The event, titled 'Coty: A Fragrance Disruptor since 1904', showcases the company's rich heritage and future vision in fragrance innovation.

Highlights include:

• Coty's revolutionary blending of synthetic molecules with natural ingredients since 1904
• Iconic scents from Coty's current portfolio
• The Olfactory Studio, demonstrating Coty's creativity and co-creation process
• Technological innovations in performance, emotion, and sustainability
• Introduction of Infiniment Coty Paris, a new fragrance leveraging cutting-edge technologies like Molecular Aura and EmoChar™

CEO Sue Nabi emphasizes Coty's position as the go-to partner for iconic scents, while Chief Brands Officer Jean Holtzmann highlights the company's expertise and passion for fragrance innovation.

Coty Inc. (NYSE: COTY) has launched its first Scientific Advisory Board to enhance skincare innovation. The board, comprising globally renowned scientific experts from diverse disciplines, held its inaugural meeting on September 24, 2024, at Coty's Skincare Research & Innovation Center of Excellence in Monaco. The board will convene twice a year to inform and inspire breakthrough innovations within Coty's R&D specialists.

CEO Sue Nabi emphasized the significance of this initiative in Coty's 120th anniversary year, stating that the experts' insights will play a pivotal role in driving skincare innovation. The board aims to align the latest science with emerging trends and consumer needs, enhancing Coty's position in skin science. Members include distinguished professionals from various fields, such as immunology, dermatology, plastic surgery, and life sciences, from locations including New York, Paris, Beijing, and Recife.

Orveda, the French biotech skincare brand, has opened its first US flagship boutique, La Maison Orveda New York City, on the Upper East Side. This 150 square foot wellness sanctuary combines luxury skincare, high-end fragrances, and curated art. The boutique features:

- Three treatment rooms for signature facials
- An event room for masterclasses and exhibitions
- A lounge area and product space
- An immersive room for Infiniment Coty Paris fragrances

The US is Orveda's leading global market, with a 54% sales increase last year. The brand plans to expand its US presence through new partnerships with Cos Bar and Nordstrom this fall.