Coty aims to be a top-five beauty company globally
07 Oct '06
2 min read
Coty Inc announced that 2006 fiscal year sales were $2.9 billion, up 38 percent from the previous year. In the five years since Bernd Beetz was named chief executive officer, Coty Inc has doubled in size. Today, Coty Inc is the largest fragrance company in the world and an emerging leader in the global beauty industry.
"By fueling creativity, our truly cosmopolitan management team continues to develop relevant products that drive our fragrance and beauty lines," said Beetz. "Specifically, we have created a formula to develop and market high- caliber products faster than anyone else."
This accelerated performance stems from a combination of organic internal growth, acquisitions, line extensions, new licenses and consistent top-line growth. Moreover, Coty Inc. has a high rate of successful product launches, reinforcing the company's reputation globally as an innovator.
With fragrance as the largest segment of its business, Coty Inc is the No. 3 prestige fragrance company in the U.S. and is quickly gaining market share globally with blockbuster fragrance lines, including Calvin Klein, Jennifer Lopez and Sarah Jessica Parker. Additionally, the company's color cosmetic business is the No. 2 in Europe led by Rimmel, which is experiencing double-digit growth.
Going forward, Coty Inc aims to be a top-five beauty company globally. Currently the eighth largest beauty company in fragrances, color, cosmetics, skin care, sun care and toiletries, Coty Inc is positioned for growth by segmenting its portfolio into designer, celebrity and lifestyle brands, while continuing to work on distribution, media and innovation.
marketing@alchempro.com
