11.22.21
Coty Inc. has unveiled its comprehensive transformation “All-In To Win” program, and announced its financial goals through FY25 and beyond.
The All-in to Win program encompasses cost saving and capital deployment initiatives intended to ignite the full potential of Coty, with an additional $75 million of savings identified for FY24.
In line with this new long-term growth strategy, the company reports that it is continuing to expand gross margin and cost savings, allowing it to reinvest into key strategic initiatives and simultaneously deliver annual profit growth.
Over the coming years, Coty expects to benefit from an improving beauty market, including a stronger U.S. and Chinese market, a robust rebound in Travel Retail, and steady improvement across Europe. Based on this favorable market backdrop, the strong performance of recent brand repositioning and product launches, and Coty’s robust category and market expansion plans, the company forecasts net revenues to grow 6% to 8% annually LFL through FY25 and beyond, ahead of expected beauty market growth of 3% to 5%.
“Coty’s unique and beautiful portfolio of brands, our talented team, and our single-minded focus on delivering sustainable, profitable growth, coupled with targeted reinvestment, are enabling us to evolve. We continue to capitalize on the tremendous growth opportunities in prestige fragrances, skincare, China, clean beauty and e-commerce.”
The All-in to Win program encompasses cost saving and capital deployment initiatives intended to ignite the full potential of Coty, with an additional $75 million of savings identified for FY24.
In line with this new long-term growth strategy, the company reports that it is continuing to expand gross margin and cost savings, allowing it to reinvest into key strategic initiatives and simultaneously deliver annual profit growth.
Over the coming years, Coty expects to benefit from an improving beauty market, including a stronger U.S. and Chinese market, a robust rebound in Travel Retail, and steady improvement across Europe. Based on this favorable market backdrop, the strong performance of recent brand repositioning and product launches, and Coty’s robust category and market expansion plans, the company forecasts net revenues to grow 6% to 8% annually LFL through FY25 and beyond, ahead of expected beauty market growth of 3% to 5%.
Comments from Sue Y. Nabi, CEO
“Coty has reclaimed its position as a true beauty powerhouse. We expect to outperform the beauty market through FY25 and beyond. I am very proud of the significant progress our teams have made, delivering against each of our strategic pillars. I am more confident than ever in Coty’s future and our ability to deliver significant value for all of our stakeholders,” said Sue Y. Nabi, chief executive officer of Coty.“Coty’s unique and beautiful portfolio of brands, our talented team, and our single-minded focus on delivering sustainable, profitable growth, coupled with targeted reinvestment, are enabling us to evolve. We continue to capitalize on the tremendous growth opportunities in prestige fragrances, skincare, China, clean beauty and e-commerce.”