05.08.24
Coty has released its third-quarter financial results for the fiscal year 2024. The company reported above-market sales growth, adjusted operating income growth, and adjusted gross and operating margin expansion.
Overall, net revenues grew 8% on a reported basis and 10% on an LFL basis, with growth in the fragrance, color cosmetics, skincare, and body care categories. In 3Q of 2024 and year-to-date, Coty delivered balanced reported net revenue growth, including growth in both Prestige and Consumer Beauty, across all regions and in each of its core categories.
Coty CEO, Sue Nabi commented:
“Our Q3 results reinforce Coty's established track record of delivering results ahead of the beauty market and ahead of expectations, and once again illustrate that we are executing on our imperative to drive balanced portfolio growth. In both Q3 and fiscal year-to-date, we delivered strong growth in both the Prestige and Consumer Beauty businesses, in each of our three regions, and in our core categories of fragrances, color cosmetics, skincare, and body care, all supported by a broad range of our leading brands.”
Prestige net revenues increased 8% on a reported basis and 13% on an LFL basis. On a year-to-date basis, Prestige net revenues grew by 17% on both a reported and LFL basis. Prestige cosmetics, fragrances, and skincare were strong. However, the category saw a 4% negative impact from the divestiture of the Lacoste license.
Global prestige, and mass fragrances grew by a low double-digit percentage. Coty’s growth was due to the successful U.S. launches of Marc Jacobs Daisy Wild and Cosmic Kylie Jenner. The launch of the Infiniment Coty Paris fragrance collection also contributed to Coty’s sales growth.
Coty grew across Europe and China with the success of its skincare brands, including Orveda and Philosophy.
In the color cosmetics category, CoverGirl and Rimmel brands performed well in Q3. Both brands increased their advocacy on social media and rank in the Top 4 Coty brands, in terms of earned media value in the U.S. and the UK.
View the full report here.
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Overall, net revenues grew 8% on a reported basis and 10% on an LFL basis, with growth in the fragrance, color cosmetics, skincare, and body care categories. In 3Q of 2024 and year-to-date, Coty delivered balanced reported net revenue growth, including growth in both Prestige and Consumer Beauty, across all regions and in each of its core categories.
Coty CEO, Sue Nabi commented:
“Our Q3 results reinforce Coty's established track record of delivering results ahead of the beauty market and ahead of expectations, and once again illustrate that we are executing on our imperative to drive balanced portfolio growth. In both Q3 and fiscal year-to-date, we delivered strong growth in both the Prestige and Consumer Beauty businesses, in each of our three regions, and in our core categories of fragrances, color cosmetics, skincare, and body care, all supported by a broad range of our leading brands.”
Prestige net revenues increased 8% on a reported basis and 13% on an LFL basis. On a year-to-date basis, Prestige net revenues grew by 17% on both a reported and LFL basis. Prestige cosmetics, fragrances, and skincare were strong. However, the category saw a 4% negative impact from the divestiture of the Lacoste license.
Global prestige, and mass fragrances grew by a low double-digit percentage. Coty’s growth was due to the successful U.S. launches of Marc Jacobs Daisy Wild and Cosmic Kylie Jenner. The launch of the Infiniment Coty Paris fragrance collection also contributed to Coty’s sales growth.
Coty grew across Europe and China with the success of its skincare brands, including Orveda and Philosophy.
In the color cosmetics category, CoverGirl and Rimmel brands performed well in Q3. Both brands increased their advocacy on social media and rank in the Top 4 Coty brands, in terms of earned media value in the U.S. and the UK.
View the full report here.
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