13. Coty
New York, NY
www.coty.com
Beauty sales: $2.9 billion
Key Personnel:
Bernd Beetz, chief executive officer, Coty Inc; Peter Harf, chairman, Coty Inc.; Michael Fishoff, chief financial officer, Coty Inc.; Michele Scannavini, president, Coty Prestige; Hans-Joachim Honigfort, president, Coty Beauty; Gabriel Ripoll, executive vice president, global operations, Coty Inc.; Geraud-Marie Lacassagne, senior vice president, human resources, Coty Inc.
Products/Brands:
Fragrances, cosmetics and personal care products marketed under a variety of brand names. Prestige brands include Calvin Klein, Cerruti, Chloe, Chopard, Davidoff, House of Phat, Jennifer Lopez, Jette Joop, Jil Sander, Joop!, Kenneth Cole, Lancaster, Marc Jacobs, Nautica, Nikos, Sarah Jessica Parker, Vera Wang and Vivian Westwood. Beauty brands include Adidas, Aspen, Astor, Celine Dion, Chupa Chups, David and Victoria Beckham, Desperate Housewives, Esprit, Exclamation, Isabella Rossellini, Jovan, Kylie Minogue, Mary-Kateandashley, Miss Sixty, Miss Sporty, Pierre Cardin, Rimmel, Shania Twain, Stetson and Vanilla Fields.
New Products:
CKin2U fragrance, Kate Moss fragrance. To be launched: Lancaster skin care.
Daisy by Marc Jacobs.
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Comments:
Fragrances accounted for 65% of sales, color cosmetics (17%), toiletries (14%) and skin care and sun care (4%). Sales by region were: Europe-50%, Americas-33%, Asia-4% and Other-13%. Coty has experienced double-digit sales growth in each of the past five consecutive years and has more than doubled in profitability over that span—all since Bernd Beetz was named chief executive officer. Success is attributed to Coty’s so-called unique business model, based on a combination of developing key brands, licensing agreements, acquisitions and joint ventures—and always with an eye on the future. Not only does Coty call itself the largest fragrance company in the world, it aims to be one of the top five beauty companies in the world.
To that end, the company has made a number of moves in 2007. In February, Coty created a new global business unit, Coty Beauty, which combined the mass businesses of the Americas, Europe and Asia. In April, Coty Prestige signed Kim Basinger to be the face of Lancaster’s new skin care collection, set to debut this fall along with another launch—a series of scents from supermodel Kate Moss. The fragrances venture extends Moss’s relationship with Coty, as she also represents Rimmel London, the company’s top-selling cosmetics line. And in fact, Rimmel, a small UK brand, has been successfully relaunched in Europe, the U.S. and now, is setting its sights on Asia. Calvin Klein fragrance has also been rejuvenated, and is now aimed at a broader market.
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