Coty Inc today announced record-breaking revenues for the sixth consecutive fiscal year. The world’s largest fragrance company has reported net sales totalling $4bn for the fiscal year ending 30 June 2008, up 23% from 2007.
The Coty Prestige division ended the fiscal year with net sales reaching $2.1bn, an increase of 16%, thanks to steady growth in existing markets and robust growth in emerging ones. Other factors include the global success of Marc Jacobs’ FiFi Award winning fragrance Daisy as well as successes behind the houses of Calvin Klein, Vera Wang, Chloe, Joop!, Lancaster and Davidoff.
The Coty Beauty division ended the fiscal year with net sales of over $1.9bn, a 33% increase from fiscal year 2007. Its strong performance was driven by launches, including Kate by Kate Moss and David Beckham Intimately Night, and the acquisition of Del Laboratories Inc, which integrated skin care and colour cosmetics brands Sally Hansen New York Color and La Cross into the Coty Beauty portfolio.
“Coty’s talent in identifying and interpreting the latest consumer trends is the engine of our success,” said Bernd Beetz, ceo, Coty Inc. “With innovation at the heart of our business, we are focused on creating dynamic new brands and extending our fragrance, skin care and colour cosmetics portfolios to deliver the highest quality products for our consumers.”