10.17.24
Coty is #11 on our Top Global Beauty Companies 2024 Report.
Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands, and latest innovations.
#11 COTY
New York, NY
www.coty.com
Fragrance and Hair Care from brands including:
Nabi reportedly earned $149.4 million in 2023. Her 4,100% raise from 2022 was due largely to the $145.9 million she accrued in 2023 stock awards.
Prestige net revenues grew 13% to $3.8 billion fueled by growth in fragrances, cosmetics, and skincare. The prestige fragrance market continued to grow by approximately 10% in FY24, and was named by the company as one of the fastest-growing beauty categories across many markets, including the U.S. and China. Burberry Goddess was key to growth across the entire Burberry franchise. Marc Jacobs Daisy Wild and Cosmic Kylie Jenner also contributed to the unit’s success.
Coty’s Consumer Beauty revenues increased 6% to $2.2 billion, with growth in color cosmetics, mass fragrances and mass skin & body care, led by Brazil. Consumer Beauty e-commerce sales grew approximately 30% in FY24, fueling a significant proportion of the division’s growth. Coty continues to focus on its social media advocacy strategy as it propels viral Consumer Beauty innovations including CoverGirl Simply Ageless Skin Perfector Essence, and Rimmel Thrill Seeker Extreme mascara, resulting in Rimmel gaining market share globally for the last 6 months and CoverGirl outperforming the U.S. omnichannel market in the past quarter.
Growth in Coty’s skincare business was led by Lancaster, Philosophy, and Orveda.
In 2023, the company renewed partnerships with Marc Jacobs International and Adidas, and announced the comeback of Philosophy with a new brand formulation principle, Dermatologic Wisdom, and a new product called Dose of Wisdom Bouncy Skin Reactivating Serum that bears the Cruelty Free International Leaping Bunny Program insignia. The product began rolling out in April, and is the first product launched as part of the new Dose of Wisdom franchise.
In May 2023, Coty Protopia was unveiled as a new approach to beauty through “cutting-edge innovation and science, underpinned by the company’s commitment to sustainability and new art.” The event marked the debut of two products: Orveda Omnipotent Concentrate, a serum billed to represent a confluence of microbiome and cellular longevity; and Infiniment Coty Paris, a collection that will ultimately include a range of 14 scents that are expected to be launched globally in 2024. Coty says it is the first fragrance to have patents pending for both the formulation and the packaging.
In February 2024, Coty announced a new partnership with luxury Italian fashion house, Etro, to produce and distribute its signature fragrance lines and home scent collections beyond 2040.
In August, Coty launched CK One Essence, an “intensified, premium take on the original scent.” The bottle for CK One Essence is a play on the original screw-top flask and features a removable pump and a translucent metallic finish. Its secondary carton has a luxe metallic finish as well. According to the company, both the bottle and carton were created with “environmentally preferred” finishes.
Below is a look at the company's 2023 highlights, recent acquisitions, best-selling brands, and latest innovations.
#11 COTY
New York, NY
www.coty.com
Beauty Sales:
$6 BillionKey Personnel:
- Sue Y. Nabi, Chief Executive Officer
- Kristin Blazewicz, Chief Legal Officer and General Counsel
- Gordon Von Bretten, Chief Transformation Officer
- Anna Von Bayrn, Chief Corporate Affairs Officer
- Stéphane Delbos, Chief Procurement Officer
- Priya Srinivasan, Chief People and Purpose Officer
- Jean-Denis Mariani, Chief Digital Officer
- Caroline Andreotti, Chief Commercial Officer, Prestige
- Stefano Curti, Chief Brand Officer, Consumer Beauty
- Alexis Vaganay, Chief Commercial Officer, Consumer Beauty
- Constantin Sklavenitis, Chief Scientific Officer
- Graeme Carter, Chief Global Supply Chain Officer
Major Products/Brands:
Prestige and Consumer CosmeticsFragrance and Hair Care from brands including:
- Adidas
- Biocolor
- Bottega Veneta
- Bourjois
- Bozzano
- Bruno Banani
- Burberry
- Calvin Klein
- Cenoura & Bronze
- Chloé
- Clairol
- CoverGirl
- ghd
- Gucci
- Hugo Boss
- James Bond 007
- Katy Perry
- Marc Jacobs
- Marni
- Max Factor
- Mexx
- Miu Miu
- Monange
- Nautica
- Nioxin
- OPI
- Paixão
- Rimmel
- Risqué
- Sally Hansen
- Sassoon
- Sebastian
- System Professional
- Tiffany & Co
- Wella
New Products:
- Adidas Active Skin & Mind Range
- Calvin Klein CK One Essence
- Etro fragrances and home fragrances
- Coty Protopia
- CoverGirl TruBlend Skin Enhancer Primers & Luminizers
- Philosophy Dose of Wisdom Bouncy Skin Reactivating Serum
- Sally Hansen Beetlejuice Collection
Comments:
Coty smelled the roses in fiscal 2024, as net revenues climbed 10% to $6.1 billion, up from $5.5 billion in fiscal 2023. Net revenues grew across both the company’s Prestige and Consumer Beauty segments. Coty CEO Sue Nabi broke one of Beauty’s glass ceilings when she became the first woman to rise to the top of 2023’s list of highest-paid CEOs in NYC.Nabi reportedly earned $149.4 million in 2023. Her 4,100% raise from 2022 was due largely to the $145.9 million she accrued in 2023 stock awards.
Coty’s CK One Essence is ‘a play on the original screw-top flask and features a removable pump and a translucent metallic finish.’
Prestige net revenues grew 13% to $3.8 billion fueled by growth in fragrances, cosmetics, and skincare. The prestige fragrance market continued to grow by approximately 10% in FY24, and was named by the company as one of the fastest-growing beauty categories across many markets, including the U.S. and China. Burberry Goddess was key to growth across the entire Burberry franchise. Marc Jacobs Daisy Wild and Cosmic Kylie Jenner also contributed to the unit’s success.
Coty’s Consumer Beauty revenues increased 6% to $2.2 billion, with growth in color cosmetics, mass fragrances and mass skin & body care, led by Brazil. Consumer Beauty e-commerce sales grew approximately 30% in FY24, fueling a significant proportion of the division’s growth. Coty continues to focus on its social media advocacy strategy as it propels viral Consumer Beauty innovations including CoverGirl Simply Ageless Skin Perfector Essence, and Rimmel Thrill Seeker Extreme mascara, resulting in Rimmel gaining market share globally for the last 6 months and CoverGirl outperforming the U.S. omnichannel market in the past quarter.
Growth in Coty’s skincare business was led by Lancaster, Philosophy, and Orveda.
2023-2024 Highlights:
Fortifying brand partnerships was the name of the game in terms of shoring up future business opportunities.In 2023, the company renewed partnerships with Marc Jacobs International and Adidas, and announced the comeback of Philosophy with a new brand formulation principle, Dermatologic Wisdom, and a new product called Dose of Wisdom Bouncy Skin Reactivating Serum that bears the Cruelty Free International Leaping Bunny Program insignia. The product began rolling out in April, and is the first product launched as part of the new Dose of Wisdom franchise.
In May 2023, Coty Protopia was unveiled as a new approach to beauty through “cutting-edge innovation and science, underpinned by the company’s commitment to sustainability and new art.” The event marked the debut of two products: Orveda Omnipotent Concentrate, a serum billed to represent a confluence of microbiome and cellular longevity; and Infiniment Coty Paris, a collection that will ultimately include a range of 14 scents that are expected to be launched globally in 2024. Coty says it is the first fragrance to have patents pending for both the formulation and the packaging.
In February 2024, Coty announced a new partnership with luxury Italian fashion house, Etro, to produce and distribute its signature fragrance lines and home scent collections beyond 2040.
In August, Coty launched CK One Essence, an “intensified, premium take on the original scent.” The bottle for CK One Essence is a play on the original screw-top flask and features a removable pump and a translucent metallic finish. Its secondary carton has a luxe metallic finish as well. According to the company, both the bottle and carton were created with “environmentally preferred” finishes.
