Coty Inc on Thursday forecast revenue growth for the next several years, after a long streak of declines, as it benefits from improving U.S. and China beauty markets and a sales rebound in airport duty-free stores.
Coty forecast annual earnings largely above estimates on Monday, as the cosmetics maker benefits from cost cuts to ward off inflation impacts and a revival in demand for its products at airport duty-free stores.
The beauty giant unveiled its new growth strategy at an investor event on Friday, revealing plans to reposition brands in its consumer beauty and skincare portfolios, and accelerate growth in prestige, China and digital.
The beauty conglomerate has announced the promotion of Stéphane Delbos, senior vice president for transformation, indirect and procurement operations, to the role of chief procurement officer, effective February 1, 2021.
The American cosmetics conglomerate has reported that it expects to see a 20% decline in sales in Q3 and also announced a series of measures it is implementing to counteract the effects of the ongoing health crisis.