Coty‘s rebound is well underway. Robust results from the multinational’s prestige and consumer products divisions pushed revenues up 15 per cent in the third quarter of its financial year to US$1.186 billion.

The buoyant performance also boosted the beauty major’s nine-month revenues to US$4.136 billion – up 16 per cent over the same period last year.

The leading engines of growth were the recovery of EMEA (Europe, the Middle East and Africa) markets, a reboot in travel retail and continued increases in the US online market.

Coty’s prestige stable was a standout with sales growth of 21 per cent during Q3 to US$726.4 million, accounting for 61 per cent of overall sales. Upmarket fragrances from Gucci, Chloe, Burberry and Hugo Boss saw perfume revenues spike 20 per cent. Key launches included Gucci Flora Gorgeous Gardenia and Burberry Hero.

Prestige cosmetic sales almost doubled in the third quarter compared to the same period last year with Gucci Beauty, Burberry and Kylie Cosmetics lifting the bottom line.

Consumer beauty revenues surged 10 per cent like-for-like in Q3 to US$459.8 million, boosted by makeup, mass fragrances and body care. Rimmel London’s Kind & Free range led the charge and Max Factor, Sally Hansen and CoverGirl gained market share in leading markets.

Our Q3 earnings mark the seventh consecutive quarter of Coty reporting results in line to ahead of expectations, said Sue Y. Nabi, CEO of Coty Inc. “I am extremely proud of the organisation for delivering these results, and outperforming the overall beauty market in an increasingly volatile environment.

“This confirms that Coty has the brands and the people to win in the beauty market, guided by our strategic priorities of delivering above market sales growth and expanding gross margin, allowing for brand reinvestment, profit expansion and continued de-leveraging.”

In another full circle move, Coty has re-appointed Queen Latifah, the Grammy award-winning and Oscar-nominated artist, actress and entrepreneur, as the face of a soon-to-be-announced collection under a multi-year partnership.

Back in 2006, Coty collaborated with Latifah to create one of the first ranges in mass cosmetics formulated for deeper skin tones.

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