On the back of a positive Q4 for the beauty conglomerate, Cosmetics Business finds out from Coty’s Chief Brands Officer how it has pulled off the turnaround and why it’s hedging its bets on ‘clean’ in the future
Campaign imagery for Rimmel London's Jelly Glitter Gel
The pandemic has not been kind to the event – what appeared to be – the strongest of beauty brands.
Boots saw a dramatic drop in sales despite being allowed to remain open as an essential retailer and beauty Goliath L’Oréal suffered disappointing revenues as customers cut back on cosmetics; and those in not-so-stable positions pre-Covid-19 have had to battle the toughest of circumstances seen this side of the millennium.
Since 2017, cosmetics owner Coty was struggling to balance its books. Its headquarters were a revolving door for executives and a historic deal in 2016 with P&G to purchase 41 consumer brands, was not reaping the US$9bn in revenue it had bargained for.
And over the next two . . .
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