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COTY INC - COTY STOCK NEWS

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) 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.

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Coty has announced the renewal of its license agreement with Jil Sander, marking the continuation of a partnership that dates back to the 1980s. This renewal initiates a 10-year strategic project aimed at introducing Jil Sander into the global ultra-premium fragrance market. Coty's CEO, Sue Y. Nabi, emphasized the shared vision of enhancing Jil Sander's brand momentum, while Jil Sander's CEO, Ubaldo Minelli, highlighted the brand’s alignment with luxury markets. The collaboration is set to modernize luxury concepts further, emphasizing high-quality fragrances in line with Jil Sander's fashion division.

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Coty (NYSE: COTY) has appointed Lubomira Rochet to its Board of Directors, effective January 2, 2023. Rochet, currently a Partner at JAB Holding Company, has over 20 years of experience in digital transformation, notably at L’Oréal. Her leadership was recognized when she was named “Marketer of the Year” in 2019. Coty’s CEO Sue Y. Nabi expressed optimism about Rochet's impact on the company’s digital strategy. This appointment boosts female representation on the board to 50% and increases total board members to twelve.

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Coty (NYSE: COTY) has agreed to sell its Lacoste fragrance license back to Lacoste, marking the end of a 6-year partnership. During this period, Lacoste's men's fragrances gained significant market presence, with award-winning products and notable improvements in rankings. Coty's CEO, Sue Y. Nabi, expressed pride in the partnership's achievements and noted that the sale aligns with Coty's strategic goals to concentrate on major fragrance licenses and enhance its deleveraging efforts. The transaction is set to conclude by the end of the calendar year 2023.

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Coty has renewed its licensing agreement with HUGO BOSS, extending their partnership to beyond 2035. This agreement encompasses all BOSS and HUGO fragrances, reflecting Coty's growth strategy in the global fragrance market. Both companies aim to enhance their presence, particularly in the U.S. market, and expand BOSS women's fragrances in Europe. The renewal comes with no material changes in licensing terms, and Coty's average remaining duration for top licenses is now approximately ten years, indicating a stable portfolio.

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Coty (NYSE: COTY) has announced plans to hedge a share buyback program of approximately $200 million in calendar 2025, on top of a previously announced $200 million buyback for CY24. The company aims to improve its leverage, targeting 4x by CY22, 3x by CY23, and 2x by CY25. Coty is entering into total return swaps with banks to manage stock price exposure related to the buyback. The firm expects continued strong free cash flow generation and steady deleveraging progress in the coming years.

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Coty Inc. announced the early results of its tender offers to purchase up to $100 million of its 6.500% Senior Notes and €100 million of its 4.750% Senior Notes, reflecting its ongoing strategy to reduce debt by $1.1 billion over 15 months. The company anticipates a reduction in interest expenses of approximately $8 million annually. With a successful early tender date on November 22, 2022, the accepted notes totaled approximately $76.9 million for the USD notes and €69.7 million for the Euro notes, representing 14% and 28% of outstanding notes, respectively. The offers will expire on December 7, 2022.

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Coty Inc. (NYSE: COTY) has announced new tender offers to purchase up to $100 million of its U.S. dollar-denominated notes and €100 million of Euro-denominated notes, as part of its ongoing deleveraging strategy. This follows a cumulative $1.1 billion reduction in debt over the past 15 months, aiming to lower annual interest expenses by approximately $11 million. The offers expire on December 7, 2022, with an early tender date of November 22, 2022.

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Coty Inc. (COTY) reported strong Q1 FY23 results, with revenues of $1,390 million, up 1% year-over-year, and 9% on a like-for-like (LFL) basis, despite FX headwinds. Prestige revenue fell 1% reported, but grew 7% LFL. Consumer Beauty saw a 12% LFL growth. Gross margins expanded to 63.9%, driven by pricing improvements. Operating income surged to $171.9 million, a tenfold increase, with adjusted EBITDA rising 11% to $307.9 million. Coty is on track to reduce financial leverage towards 4x by CY22 end. The company aims for FY23 adjusted EBITDA growth of 955-965 million.

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Coty (NYSE: COTY) has announced a new global gender-neutral parental leave policy effective November 1st, allowing all employees equal access to fully paid parental leave for family expansion via pregnancy, adoption, or surrogacy. This initiative aims to foster inclusivity and address gender stereotypes. Chief HR Officer Anne Jaeckin states that this aligns with Coty's corporate values, promoting diversity and gender equality. This policy strengthens existing leave commitments and adheres to local regulations, representing a significant step in Coty's commitment to workplace inclusivity.

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FAQ

What is the current stock price of COTY (COTY)?

The current stock price of COTY (COTY) is $7.04 as of December 20, 2024.

What is the market cap of COTY (COTY)?

The market cap of COTY (COTY) is approximately 6.1B.

What is Coty Inc. known for?

Coty Inc. is known for being one of the largest beauty companies globally, specializing in fragrances, color cosmetics, and professional salon products.

What are the main divisions of Coty Inc.?

Coty operates three main divisions: Coty Consumer Beauty, Coty Luxury, and Coty Professional Beauty.

Which brands are under Coty Consumer Beauty?

Coty Consumer Beauty includes brands like CoverGirl, Max Factor, and Rimmel.

Who are Coty's strategic partners?

Coty licenses luxury brands such as Gucci, Burberry, Hugo Boss, Davidoff, and Calvin Klein, and collaborates with social media celebrities like Kim Kardashian and Kylie Jenner.

Where does Coty generate most of its sales?

Coty generates close to 45% of its sales from Europe, 42% from the Americas, and 13% from the Asia-Pacific region.

What is the financial condition of Coty Inc.?

Coty Inc. has approximately $9 billion in revenue.

Who is the controlling shareholder of Coty Inc.?

The German investment firm JAB is the controlling shareholder of Coty Inc., with a 53% stake.

What is Coty's market position in the beauty industry?

Coty is the global leader in fragrances, second in professional salon hair color and styling, and third in color cosmetics.

Are there any recent collaborations by Coty Inc.?

Yes, Coty collaborates with social media influencers Kim Kardashian and Kylie Jenner for makeup products.

What percentage of Coty's sales come from fragrances?

Approximately 59% of Coty's sales come from fragrances.

COTY INC

NYSE:COTY

COTY Rankings

COTY Stock Data

6.09B
342.34M
60.63%
38.3%
1.38%
Household & Personal Products
Perfumes, Cosmetics & Other Toilet Preparations
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