Coty is firing on all cylinders. The multinational’s Q4 revenues rose 10 per cent to US$1.16 billion, pushing its FY2022 sales to US$5.304 billion – an increase of 15 per cent compared to FY2021.
Prestige beauty, including fragrances, was the prime mover. Revenues for the fourth quarter reached US$662.8 million – a hefty 57 per cent of total sales and an increase of 16 per cent by contrast to the same period last year.
Designer fragrances, led by Gucci, Chloe, Boss and Calvin Klein, were on a tear with sales jumping 18 per cent in the fourth quarter, notably in North America and Europe.
Consumer beauty, including Rimmel London, Covergirl, Sally Hansen and Max Factor, reported a 7 per cent gain in Q4 to US$505.5 million – 43 per cent of Coty’s global sales.
The iconic brands gained market share worldwide in the fourth quarter, riding surging growth in the colour cosmetic sector during the first half of the year.
Today marks the end of another successful year at Coty, as we continued to make significant progress strategically, operationally and financially, noted Sue Y. Nabi, CEO of Coty.
“We have also demonstrated the sustainability of Coty’s turnaround in the business by delivering eight consecutive quarters of results in-line to ahead of expectations. Coty’s presence in both premiumised mass beauty and prestige beauty is a crucial asset in the current macroeconomic environment.”
In June, Coty launched SKKN by Kim, the new nine SKU skincare range from Kim Kardashian. Lancaster, the multinational’s premium skincare and suncare brand, became the #2 exclusive brand in Sephora China. E-commerce also continued to be a highlight, with sales rising 15 per cent in Q4.
With continued momentum in the fragrance category, Europe and global travel retail, and a strong pipeline of innovation, we expect FY2023 to be a year of continued expansion, added Nabi.
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