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Coty closes the second quarter of the year with a turnover of 1.73 billion dollars, up 13%, against the 1.68 billion expected by Wall Street, and a net profit of 180.9 million dollars. For the six months, revenue was 3.4 billion with a net profit of 182.5 million.
The American group was rewarded by “the attractiveness of the beauty and fragrance market, in particular, the power of our brands and our efficient financial management” explains Sue Nabi, CEO of Coty. But also the sales of the prestige division (including Burberry, Hugo Boss, Calvin Klein, Gucci, Chloé, Marc Jacobs and Davidoff) which grew by 17% led by Burberry Goddess, the group’s most important launch, and Burberry’s Hero and Her . Cosmetics (Kylie, Burberry and Gucci) and prestige skincare (Lancaster) also performed well.
Luxury is strategic for the company as demonstrated by the new licensing agreement signed with Marni to develop, produce and distribute a line of fragrances and beauty products until beyond 2040.
The Consumer Beauty division grew 7%, while e-commerce saw a jump of more than 20% for both Prestige and Consumer Beauty.
All geographical areas were positive with sales in EMEA increasing by 16%, those in Asia Pacific by 15% and those in America by 10%.