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Coty Inc

Coty Inc (COTY)

10.22
-0.49
(-4.58%)
Closed May 29 4:00PM
10.25
0.03
(0.29%)
After Hours: 5:48PM

Empower your portfolio: Real-time discussions and actionable trading ideas.

Key stats and details

Current Price
10.25
Bid
-
Ask
-
Volume
4,463,037
10.19 Day's Range 10.59
9.015 52 Week Range 13.46
Market Cap
Previous Close
10.71
Open
10.55
Last Trade
1
@
10.2
Last Trade Time
Financial Volume
$ 45,897,873
VWAP
10.284
Average Volume (3m)
3,896,767
Shares Outstanding
895,168,882
Dividend Yield
-
PE Ratio
18.46
Earnings Per Share (EPS)
0.55
Revenue
5.55B
Net Profit
495M

About Coty Inc

Coty is a global beauty company that sells fragrances (58% of fiscal 2021 revenue), color cosmetics (29%), and skin/body care (13%). The firm licenses brands such as Calvin Klein, Hugo Boss, Gucci, Burberry, and Davidoff for its prestige portfolio. Coty's most popular color cosmetic brands are Cover... Coty is a global beauty company that sells fragrances (58% of fiscal 2021 revenue), color cosmetics (29%), and skin/body care (13%). The firm licenses brands such as Calvin Klein, Hugo Boss, Gucci, Burberry, and Davidoff for its prestige portfolio. Coty's most popular color cosmetic brands are CoverGirl, Max Factor, Rimmel, Sally Hansen, and Kylie. Coty also holds a minority stake in a salon and retail haircare business, including brands Wella, Clairol, OPI, and GHD. Francois Coty founded the firm in 1904 and it remained private until its 2013 IPO. It had focused on prestige fragrances and nail salon brands until the 2016 acquisition of Procter & Gamble's beauty business. This nearly doubled the firm's revenue base, and launched it into mass-channel cosmetics and professional hair care. Show more

Sector
Perfume,cosmetic,toilet Prep
Industry
Perfume,cosmetic,toilet Prep
Website
Headquarters
Wilmington, Delaware, USA
Founded
1970
Coty Inc is listed in the Perfume,cosmetic,toilet Prep sector of the New York Stock Exchange with ticker COTY. The last closing price for Coty was $10.71. Over the last year, Coty shares have traded in a share price range of $ 9.015 to $ 13.46.

Coty currently has 895,168,882 shares outstanding. The market capitalization of Coty is $9.14 billion. Coty has a price to earnings ratio (PE ratio) of 18.46.

COTY Latest News

Coty Inc. to Present at Upcoming Investor Events

Coty Inc. (NYSE: COTY) (Paris: COTY), one of the world’s largest beauty companies, announced that its company executives will present at upcoming investor events. Wednesday, June 5: Deutsche Bank...

Coty Inc. Prices €500 Million of Senior Secured Notes

Regulatory News: Coty Inc. (NYSE:COTY) (Paris:COTY) (“Coty”), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body...

Coty Inc. to Offer Senior Secured Notes

Regulatory News: Coty Inc. (NYSE: COTY) (Paris: COTY)(“Coty”), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body...

Disney Slashes Streaming Losses, UBS shoots up 9% as profit triples expectations, and More in Earnings

Walt Disney (NYSE:DIS) – In the fiscal second quarter, Disney exceeded analysts’ earnings estimates, thanks to reduced losses from its streaming services. The company reported a 17...

Coty and Lena Gercke Embark on New License Agreement

New LeGer Fragrance To Join Coty’s Mass Fragrance Portfolio Today, Coty Inc. (NYSE:COTY) (Paris:COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across...

Coty Reports Strong Results Ahead of Beauty Market, with Double-Digit Growth FYTD

Q3 Sales Exceed Expectations on Prestige Share Gains and Strength in Beauty Demand Continuing Expansion in Operating Income and Margin FY24 Outlook Raised to High End of Guidance Range Coty Inc...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
1-0.18-1.7257909875410.4310.810.19432158510.52492195CS
4-1.1-9.6916299559511.3511.7710.19417167610.93256907CS
12-2.42-19.100236779812.6712.9910.19389676711.31045893CS
26-1.09-9.6119929453311.3413.310.19409725711.78327269CS
52-0.75-6.818181818181113.469.015452121511.44330133CS
1561.1813.00992282259.0713.465.964994299.33187156CS
260-2.73-21.03235747312.98142.6579702677.92020111CS

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COTY Discussion

View Posts
Monksdream Monksdream 3 weeks ago
COTY 10Q due 5/6
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BottomBounce BottomBounce 7 months ago
"Cancer Is On The Rise!"- Toxicity Expert Shares The Everyday Products Linked To It | Yvonne Burkart
$COTY
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maddog27 maddog27 8 months ago
Monthly charts a beauty. Upper teens eventually

[url=https://postimg.cc/FdFVNsfF][/url]
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weedtrader420 weedtrader420 11 months ago
COTY Could be the next Estee Lauder
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TheFinalCD TheFinalCD 11 months ago
$COTY
Coty up AH on Kim Kardashian in talks to buy back 20% stake of SKKN sold to Coty, according to WSJ
Solid Chart
$COTY
Coty up AH on Kim Kardashian in talks to buy back 20% stake of SKKN sold to Coty, according to WSJ
Solid Chart— Ripster📈📉 (@ripster47) July 11, 2023
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Monksdream Monksdream 11 months ago
COTY new 52 week high
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freddie me freddie me 2 years ago
CEO buys 200k shares north of $6?
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freddie me freddie me 2 years ago
https://www.sec.gov/Archives/edgar/data/1024305/000102430522000030/xslF345X03/wf-form4_165238734279931.xml
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freddie me freddie me 2 years ago
https://www.sec.gov/Archives/edgar/data/1024305/000102430522000032/xslF345X03/wf-form4_165273375474409.xml
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freddie me freddie me 2 years ago
https://www.sec.gov/Archives/edgar/data/1024305/000102430522000033/xslF345X03/wf-form4_165281998470940.xml
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freddie me freddie me 2 years ago
Hyatt, Coty, caught in Melvin Capital liquidation

"If these shares have indeed already been sold as David Faber’s reporting suggests..."


https://seekingalpha.com/news/3842349-hyatt-coty-caught-in-melvin-capital-liquidation?v=1653439858#comment-92430047
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jonny_red jonny_red 2 years ago
On Watch Starting 1/4/2022 is Stock Ticker COTY for a Bullish Trade.

YouTube Link:
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BottomBounce BottomBounce 3 years ago
$COTY Total Debt (mrq) 5.74B
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Enterprising Investor Enterprising Investor 3 years ago
Investor Presentation:

https://investors.coty.com/news-events-and-presentations/events-and-presentations/event-details/2021/Coty-Strategy-Update/default.aspx
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Enterprising Investor Enterprising Investor 3 years ago
Coty Unveils Growth Acceleration Strategy at Investor Update Event (4/23/21)

Accelerates Company’s luxury business across its leading fragrance portfolio, complemented by growing contributions from skincare and prestige cosmetics led by Gucci and Burberry

Repositions and rejuvenates globally-renowned beauty brands, including CoverGirl, Rimmel and Max Factor, with plans already demonstrating positive results

Unveils major new campaign for CoverGirl Simply Ageless – the number one anti-aging foundation in the U.S.

Reaffirms Company is on track to reach near term revenue, adjusted EBITDA and deleveraging targets

NEW YORK--(BUSINESS WIRE)--Coty Inc. (NYSE: COTY), one of the world’s leading beauty companies and the global leader in fragrance, today unveiled its long-term strategy, underpinned by six priorities for sustainable growth. These initiatives build on the actions taken by Coty over the past year that have accelerated its shift to sustainable and profitable growth, with greater cost controls and a more competitive market position.

In a presentation to investors, Coty Chief Executive Officer, Sue Y. Nabi, will be outlining how the business is already delivering enhanced performance against these strategic priorities:

Stabilization of Consumer Beauty make-up brands and Mass fragrances

Acceleration of luxury fragrances and establishing Coty as a key player in Prestige make-up

Building a Skincare portfolio across Prestige and Mass divisions

Enhancing e-commerce and Direct-to-Consumer (DTC) capabilities

Expanding in China through Prestige and select Consumer Beauty brands

Establishing Coty as an industry leader in sustainability

Sue Y. Nabi, CEO of Coty Inc., commented:

“Coty is ideally positioned to accelerate sales and profit through our six strategic priorities, that will reposition and expand our portfolio to meet the great opportunities ahead. We anticipate a rebound in demand for beauty products as pandemic restrictions ease, led by luxury beauty, clean beauty, China and skincare. Our performance will be supported by a purpose-led and highly focused portfolio: anchored in luxury with highly desirable brands and delivered through innovative omnichannel activations.” She added, “Across our business, we are harnessing sustainability as the ultimate driver of innovation – enabling our brands to capitalize on growing consumer demand for outstanding beauty products that are clean and green. We intend to use this strategy to build Coty into a truly global beauty powerhouse.”

STRENGTHENING CONSUMER BEAUTY AND MASS FRAGRANCES

Coty intends to strengthen the performance of its Consumer Beauty business by rejuvenating and repositioning several key brands, allowing it to capture new growth opportunities. This involves plans to bolster CoverGirl, Sally Hansen, Rimmel, Max Factor, and adidas through a focus on brand equity, key trends, clear consumer targets, in-store execution, product innovation, and ensuring that each brand has a distinctive purpose.

A FRESH APPROACH FOR COVERGIRL

Coty expects to strengthen CoverGirl’s appeal to a broader U.S. consumer base. The objective will be to build on the brand’s heritage of pioneering key beauty trends – including clean makeup and makeup/skincare hybrid products – supported by new launches and innovative marketing. CoverGirl, which this year celebrates its 60th anniversary, is already benefiting from this repositioning and is delivering improved sales.

To support this strategy, Coty will be unveiling a major new marketing campaign for CoverGirl ‘Simply Ageless’: the number one anti-aging foundation in the U.S. Targeting the growing demand for skincare-powered make-up, the campaign sees the return of Niki Taylor, who was a CoverGirl Ambassador in the 1990s.

The new campaign will begin to air next week in the U.S. and demonstrates CoverGirl’s healthy fresh take on traditional beauty advertising – with the content based on images and footage taken by Niki herself in her family home.

BUILDING A COMPREHENSIVE SKINCARE PORTFOLIO

Coty intends to build its skincare portfolio across Mass and Prestige: capitalizing on key trends like regenerative medicine and creating products that are truly green, clean and sustainable. Coty currently has three skincare brands, with a fourth brand, SKKN by Kim, launching in Fiscal Year 2022. Each brand occupies distinct positioning, price tiers, and geographic strengths. Coty now sees an opportunity to extend several of its designer brands and consumer beauty brands into the skincare portfolio.

Within its existing skincare portfolio, Coty is repositioning its brands for greater success. Lancaster, which has a rich history related to innovative skincare technology and protection, including unique IP, intends to transform from a regional UV protection brand to a leader in skincare enhancement and renewal. Philosophy – which produces Purity, the number one facial cleanser product in the U.S. – is expected to move from being a U.S.-centric wellbeing beauty brand to a leader in green, clean ‘ceutical’ skincare.

ACCELERATING GROWTH IN PRESTIGE AND CHINA

Coty intends to enhance the performance of its luxury business, by accelerating its core Prestige fragrance business and capturing new opportunities in Prestige cosmetics and skincare. By Fiscal Year 2025, Coty is targeting: skincare to increase from approximately 6% to over 10% of the revenue mix; Prestige cosmetics to increase from approximately 3% to a high-single digit percent of the revenue mix; and, lastly, China’s contribution to triple to over 10% of the revenue mix. With Prestige fragrances, Prestige cosmetics, skincare and China operations delivering above-corporate margins, this targeted portfolio mix is expected to drive profitability and margin expansion.

Coty maintains a leading position in luxury fragrances, with three of the top 10 female fragrances brands and two of the top 10 male fragrances of 2020 within its portfolio. Coty expects to bring more iconic female fragrances to market and expand its presence in artisanal fragrances. The Company will also confirm that it has no major Luxury licenses expiring based on their terms over the next five years. Additionally, many of Coty’s licensing agreements with luxury brands enable the potential for extension into additional beauty categories, such as cosmetics and skincare.

Coty demonstrated the growth opportunity of Prestige through the success of Gucci Beauty. In the last nine months, Gucci cosmetics sell-out grew over 110% in the U.S. and by over 50% in Asia Pacific, while Gucci foundation sold more than 60,000 units in two months. Gucci Beauty has also seen outstanding success since opening the brand’s Tmall flagship, making it one of Tmall’s top four luxury beauty brand openings since 2018. Coty also noted the significant growth opportunity for leading artisanal fragrance brands in China, including Chloe, Tiffany & Co., and Bottega Veneta.

The performance of its brands in China and its growing footprint in emerging Travel Retail destinations (like Hainan) reinforce Coty’s confidence in its ability to capture market share and growth in the region. Coty also expects a rebound in the Travel Retail sector after a challenging 12 months, with indicators suggesting strong pent-up demand for international travel.

E-COMMERCE FUELING LUXURY AND MASS GROWTH

Coty plans to accelerate its e-commerce and Direct To Consumer (DTC) growth, through a transformed approach to its digital strategy. In 2Q21, the Company recorded 40% e-commerce sales growth driven by its Prestige and Mass businesses. Coty’s newly integrated digital approach is designed to build on this momentum and harness industry-leading innovations, including social listening and social commerce.

BECOMING AN INDUSTRY LEADER IN SUSTAINABILITY

Coty aims to create a more sustainable and inclusive world through its ‘Beauty That Lasts’ platform. The ‘Beauty That Lasts’ strategy is built on three key pillars: product, planet, and people. To integrate sustainability within its product development process, Coty has announced its ‘Beauty That Lasts’ Index, a measure that sees Coty’s R&D division integrate robust sustainability criteria into the packaging and formula development of every new product.

REAFFIRMED FINANCIAL GUIDANCE

Ahead of Coty’s 3Q21 earnings announcement on May 10, 2021, the Company is reaffirming its current financial guidance. Coty anticipates an adjusted EBITDA of approximately $750m for FY21, and remains on-track to end the financial year with net revenues of between $4.5bn to $4.6bn. The Company reaffirmed its target of driving leverage towards 5x exiting CY21.

Coty’s next quarterly earnings will be announced on May 10, 2021. For more detail, please visit Coty’s Investor Relations section of its website.

About Coty Inc.

Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, and skin and body care. Coty is the global leader in fragrance, and number three in color cosmetics. Coty’s products are sold in over 150 countries around the world. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment. For additional information about Coty Inc., please visit www.coty.com.

https://www.businesswire.com/news/home/20210423005118/en/Coty-Unveils-Growth-Acceleration-Strategy-at-Investor-Update-Event
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Enterprising Investor Enterprising Investor 3 years ago
Coty Inc. Prices $900 Million of Senior Secured Notes (4/16/21)

NEW YORK--(BUSINESS WIRE)--Coty Inc. (NYSE:COTY) (“Coty”) today announced the pricing of $900 million of 5.000% senior secured notes due 2026 (the “Notes”) (representing an upsize from the previously announced $750 million). Coty will receive gross proceeds of $900 million in connection with the offering of the Notes. The offering is expected to close on April 21, 2021, subject to customary closing conditions.

The Notes will be senior secured obligations of Coty and will be guaranteed on a senior secured basis by each of Coty’s subsidiaries and will be secured by first priority liens on the same collateral that secures Coty’s obligations under its existing senior secured credit facilities. The Notes and the guarantees will be equal in right of payment with all of Coty’s and the guarantors’ respective existing and future senior indebtedness and will be pari passu with all of Coty’s and the guarantors’ respective existing and future indebtedness that is secured by a first priority lien on the collateral, including the existing senior secured credit facilities, to the extent of the value of such collateral.

Coty intends to use the net proceeds from the offering to repay a portion of its outstanding term loans under its existing credit facilities and to pay any related premiums, fees and expenses thereto.

The Notes and the related guarantees have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state or foreign securities laws, and will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A, and to persons outside the United States in compliance with Regulation S under the Securities Act. Unless so registered, the Notes and the related guarantees may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

https://www.businesswire.com/news/home/20210416005563/en/Coty-Inc.-Prices-900-Million-of-Senior-Secured-Notes
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Enterprising Investor Enterprising Investor 3 years ago
Coty Inc. to Offer Senior Secured Notes (4/15/21)

NEW YORK--(BUSINESS WIRE)--Coty Inc. (NYSE: COTY) (“Coty”) today announced its intention to offer, in a private transaction, up to $750 million aggregate principal amount of senior secured notes (the “Notes”), subject to market and customary conditions. The interest rates and other key terms of the offering will be determined at the time of pricing.

The Notes will be senior secured obligations of Coty and will be guaranteed on a senior secured basis by each of Coty’s subsidiaries and will be secured by first priority liens on the same collateral that secures Coty’s obligations under its existing senior secured credit facilities. The Notes and the guarantees will be equal in right of payment with all of Coty’s and the guarantors’ respective existing and future senior indebtedness and will be pari passu with all of Coty’s and the guarantors’ respective existing and future indebtedness that is secured by a first priority lien on the collateral, including the existing senior secured credit facilities, to the extent of the value of such collateral.

Coty intends to use the net proceeds from the offering to repay a portion of its outstanding term loans under its existing credit facilities and to pay any related premiums, fees and expenses thereto.

The Notes and the related guarantees have not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”), or any applicable state or foreign securities laws, and will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A, and to persons outside the United States in compliance with Regulation S under the Securities Act. Unless so registered, the Notes and the related guarantees may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

https://www.businesswire.com/news/home/20210415005552/en/Coty-Inc.-to-Offer-Senior-Secured-Notes
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jgrabar jgrabar 3 years ago
$COTY Current Coty shareholders who have held shares of the Company’s stock since at least October 3, 2016 have standing to seek corporate governance reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate at no cost. See https://grabarlaw.com/the-latest/coty-inc-investigation/
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LMLYP LMLYP 3 years ago
Time for more Form 4s. Always checking insider buying.
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Enterprising Investor Enterprising Investor 3 years ago
It’s time to update all those targets.
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LMLYP LMLYP 3 years ago
Fromage. Do you have any cheddar?


https://video.search.yahoo.com/search/video?fr=mcafee&ei=UTF-8&p=the+cheese+shop+monty+python&type=E211US105G0#id=0&vid=f0b5ee9fcfe9d818c8c10b744341c0a2&action=click

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LMLYP LMLYP 3 years ago
Fondues melt up.
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deet49 deet49 3 years ago
restoring .50Cent dividend in addition to your bull flag makes it an easy read IMO ...

you know I was reading back around a year ago and realized that the grand-Fromage was hinting at a one time $1/2 dividend pre-covid now that post-CV turned out even better is the .50Cent back on the table ...?

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LMLYP LMLYP 3 years ago
Bull Flag Formation
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LMLYP LMLYP 3 years ago
And two more directors bought stock last thursday too.

DD to be done. Off top of my head
Total 62,000 shares total. About $6.66 $400,000 or so

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LMLYP LMLYP 3 years ago
Last thursday, robert singer (director) bought 75,000 shares at $6.63

I have him over the last three months making open market purchases of $700,000. I would say upper sixes average he paid.

These cosmetics guys are rich AF!

Anyway, the last time he sold was 2015 and 2016. He sold $800,000 worth back around $28-$29 a share.

I am NOT recommending the stock. But DD should be started.
Will someone tell me how diluted and how leveraged up this POS is.
I probably will add, and definitely will pay too much.
There is a nice turnaround story going on - possibly - cosmetic companies suck in general. But theres a good bull case on this board below me ...


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LMLYP LMLYP 3 years ago
Patience ...
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LMLYP LMLYP 3 years ago
I'm looking forward to DD and pullbacks.
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Enterprising Investor Enterprising Investor 3 years ago
Barclays Adjusts Price Target for Coty to $7 From $4, Maintains Equal Weight Rating (2/10/21)

Target was only $4? COTY hasn't traded that low since November.
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Enterprising Investor Enterprising Investor 3 years ago
Deutsche Bank Adjusts Coty's Price Target to $8 From $6, Maintains Hold Rating (2/10/21)
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Enterprising Investor Enterprising Investor 3 years ago
Coty scores bull rating from Evercore and lush price target (2/10/21)

Evercore ISI lists seven reasons it sees upside for COTY

Analyst Robert Ottenstein - 1) Fragrances now growth category --56% of sales; 2) E-commerce is a friend, not a foe; 3) Cover Girl’s turnaround has gained traction online; 4) Non-core businesses becoming less of a drag; 5) Non-core businesses becoming less of a drag; 6) Pivot to China and 7) Cost cutting –50% of identified savings in 2021.

The firm moves to an Outperform rating on Coty from In Line and assigns a price target of $10. The 52-week range for Coty is $2.65 to $11.68.
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Enterprising Investor Enterprising Investor 3 years ago
Coty Maintains Momentum in Q2 (2/09/21)

Continued Improvement In Profit and Net Debt Reduction, with Revenues In Line

FY21 Fixed Cost Savings Target Increased to ~$300M

Strong Strategic Progress in Prestige Business Especially in U.S. and China, and E-Commerce

EW YORK--(BUSINESS WIRE)--Coty Inc. (NYSE: COTY) today announced continued improvement in financial results for the second quarter of fiscal year 2021, ended December 31, 2020.

In Q2, Coty reported adjusted operating income of $188.4 million, up 7% versus last year, with a reported operating income of $17.0 million. Strong profit performance in the quarter was fueled by fixed costs savings, which totaled approximately $80 million, consistent with Q1. The strong delivery in 1H21 coupled with the acceleration of certain projects into the year are driving an increase to the savings target for FY21, now expected to be approximately $300 million compared to the previous target of over $200 million. For the quarter, the operational improvements and stringent cost controls resulted in Adjusted EPS for Total Coty of $0.17, which includes two months of contribution from Wella, while reported EPS was $(0.36) driven by the impact of the cost of the Wella transaction as well as additional restructuring accruals under the fixed cost savings plan.

The Wella divestiture closed as planned on November 30, delivering $2.9 billion gross proceeds. Combined with free cash flow of $389.4 million, Financial Net Debt fell to approximately $4.8 billion at the end of Q2. Economic Net Debt, which includes the stake in Wella valued at quarter end at approximately $1.2 billion1, fell to approximately $3.6 billion. Coty has elected to recognize its Wella stake on a fair value basis going forward, as permitted by U.S. GAAP. Separately, Coty will now use Adjusted EBITDA as a key performance measure, in order to more directly drive and highlight its focus on cash flow and deleveraging, which remains a priority. Adjusted EBITDA was $449.9 million for 1H21, up 6% versus the last year, and is expected to be $750 million in FY21.

Revenues continued to improve in the second quarter, with a 16% revenue decline on a reported basis, or an 18% LFL decline which was 1 percentage point ahead of Q1, despite the resurgence of COVID and related lockdowns in multiple parts of the world. The Prestige business saw the biggest gain, with LFL trends better by 9 percentage points sequentially, even as the travel retail channel remained under pressure. Within the prestige business, which accounted for approximately 60% of net revenues in the first half of FY21, highlights for the quarter included strong retail sales momentum in the U.S. and China, and broad-based strength in e-commerce.

Coty continues to make progress on its strategic priorities, including digital and e-commerce acceleration, which grew 40% in Q2, expanding into white space opportunities including prestige cosmetics and skincare, building out its presence in China, and strengthening its core prestige fragrance business and stabilizing share in the mass beauty business through leading innovation and improved execution.

Commenting on the operating results, Sue Y. Nabi, Coty's CEO, said:

"Our strong second quarter results build on the momentum of the first quarter, as the entire organization continued to act with discipline, flexibility and creativity in an uncertain environment. With revenues delivering on our objectives and profit, cash flow and debt all ahead of expectations, including 6% EBITDA growth, it is clear that a much stronger Coty is emerging, which we believe will weather any near-term market headwinds while simultaneously positioned strongly to capture the opportunities of the eventual global recovery. Entering Q3, January trends are starting inline with our expectations.

The strong execution on our fixed cost savings plan, with approximately $160 million of savings generated in the first half of FY21, and a solid pipeline of projects for the second half, give us confidence to raise our savings target for the full year to approximately $300 million. The additional savings will allow us to protect our profitability in the coming months of uncertainty while simultaneously freeing up funds to increase our A&CP investments in the second half of FY21 to support our carefully chosen strategic initiatives.

We continued to progress on our strategic objectives during the quarter. Our e-commerce momentum, with 40% sales growth was broad-based, spanning the prestige and mass businesses, across key regions, and fueled by success in pureplay e-retailers, brick & click retailers, and DTC. Our China prestige business continues to grow, with strong fragrance sell-out and the more than doubling of retail sales for both Gucci and Burberry cosmetics, speaking to the strong appeal of both brands to Chinese consumers. And we have continued building on Gucci's momentum in China, with the opening this week of the Gucci Beauty flagship store on Tmall, for which we see tremendous potential in the coming years. And in our core business, we continue to deliver leading innovation in both prestige and mass. I am delighted to see Marc Jacobs Perfect ending the year as the #1 fragrance launch of CY20 in the U.S., U.K, Canada and Australia, while Hugo Boss delivered strong innovation behind Alive and Boss Bottled. Meanwhile, we continued to build our prestige cosmetics footprint, with sales growing double digits in Q2. In mass, Rimmel's revamped Lasting Finish 25H foundation helped strengthen its market share in the UK and Italy, while Cover Girl continued to strengthen its positioning as the brand leading on clean, vegan and cruelty free products, through its Clean Fresh line-up and the more recent launch of Lash Blast Clean mascara. Additionally, we are gradually stabilizing market share in our mass beauty business, fueled by the strong momentum of our brands online, including nearly a doubling of share on Amazon.

At the same time, we have strengthened the Coty leadership team with Stefano Curti joining as Chief Brands Officer, Consumer Beauty; Alexis Vaganay as Chief Commercial Officer, Consumer Beauty; Laurent Mercier elevated to Coty CFO and Stephane Delbos promoted to Chief Procurement Officer. The new Coty team is now in place, bringing strong beauty and business experience, deep knowledge of Coty, and relevant knowledge of new areas like skincare. At the same time, we are supported by a strong and female-majority Board of Directors, including the recent additions of two new directors, Anna Adeola Makanju and Mariasun Aramburuzabala Larregui.

As we have finalized our strategic review, including new growth opportunities, brand equity mapping, and a repositioning plan for our core mass brands, we will share our strategic priorities around accelerating growth in mid-April, with a full Investor Day planned for Fall 2021.

I am excited by the tremendous opportunities and exciting journey ahead for Coty, and look forward to sharing this vision in the coming months."

*Adjusted financial metrics used in this release are non-GAAP. See reconciliations of GAAP results to Adjusted results in the accompanying tables.
1Based on fair market value, reflecting the final Wella capital structure

Highlights

2Q21 net revenue trends show moderate sequential improvement, despite resurgence of COVID and related lockdowns, with Continuing Operations net revenues declining 16% as reported and 18% LFL

Continuing Operations reported operating income of $17.0 million

Solid growth in 2Q21 Continuing Operations adjusted operating income of $188.4 million, up 7% YoY, with 280 bps of margin expansion to 13.3%

2Q21 adjusted EBITDA of $284.1 million brings the 1H21 adjusted EBITDA to $449.9 million, with an adjusted EBITDA margin of 17.7%

2Q21 cost reductions remained strong with an additional approximately $80 million of savings, bringing the year-to-date total to over $160 million; Coty raises FY21 cost reduction target to approximately $300 million from previous expectations of over $200 million, which will protect profitability in 2H21 and support increased reinvestment behind upcoming FY22 initiatives

Strong 2Q21 free cash flow of $389.4 million was ahead of internal expectations, driven primarily by solid profit growth

Financial Net Debt better than expected at $4,842.6 million, supported by the proceeds from the Wella transaction and strong free cash flow, partially offset by negative FX impact. Economic Net Debt now $3,656.1 at quarter end.

Significant immediate liquidity of $2,832.1 million at end-quarter, with comfortable headroom under Coty's financial debt covenants. Given Coty's financial position and free cash flow characteristics, Coty expects to be in full compliance of covenant requirements going forward.
Outlook

Despite continued disruptions to sales channels and short-term orders related to the COVID-19 pandemic, we remain focused on our strategic priorities and the improvement of our sell-out trends, and will start raising our commercial investments to fuel improvements ahead of FY22.

This is made possible by the decrease of our fixed costs, which we expect to reach approximately $300M for this fiscal year and will contribute to an expected adjusted EBITDA of $750M for FY21. With a financial net debt that has now crossed below $5B, we will continue to drive our leverage ratio towards 5x by the end of CY21, in line with our prior guidance.

Our strong cost discipline and cash flow dynamics are key drivers for building profitable growth and positioning Coty as a best-in-class beauty company.

Financial Results

Note: Discussions of "Total Coty" results reflect the full scope of Coty's revenues and costs, inclusive of Wella, through the closing date of the Wella transaction on November 30, 2020. "Continuing Operations" results reflect Total Coty results less the revenues and directly attributable costs of the divested Wella business through the transaction closing date, but include the TSA cost reimbursement received from Wella for the month of December 2020.

Refer to “Non-GAAP Financial Measures” for discussion of the non-GAAP financial measures used in this release; reconciliations from reported to adjusted results can be found at the end of this release.

Continuing Operations

Revenues:

2Q21 reported net revenues of $1,415.6 million decreased 15.9% year-over-year, including a negative foreign exchange (FX) impact of 0.5%. LFL revenue decreased 17.9%, driven by LFL decreases in the EMEA segment of 24.8%, Asia Pacific segment of 17.2%, and Americas of 7.4%. By channel, the prestige business decline 15.6%, showing a significant improvement from -25.0% in Q1, while the mass business declined 21.6%.
Year-to-date reported net revenues of $2,539.7 million decreased 17.9% year-over-year, including a negative FX impact of 0.3%. LFL revenue decreased 18.4%, driven by LFL decreases in the Asia Pacific segment of 26.8%, EMEA of 24.6%, and Americas of 6.1%.

Gross Margin:

2Q21 reported and adjusted gross margin of 58.7% decreased from 62.4% in the prior-year period, due to the negative impact from the regional and category sales mix as well as the decline in sales volume.
Year-to-date reported and adjusted gross margin of 58.7% decreased from 61.4% in the prior-year period, primarily due to mix impact as well as lower production volumes.

Operating Income and EBITDA:

2Q21 reported operating income from Continuing Operations of $17.0 million increased from a reported operating loss of $80.5 million in the prior year due to a $112.2 million reduction in restructuring and other business realignment costs, as well as lower SG&A, partially offset by higher acquisition and divestiture related expenses of 15.7 million.
2Q21 adjusted operating income for Continuing Operations of $188.4 million rose 7% from $176.4 million in the prior year, while the adjusted EBITDA for Continuing Operations of $284.1 million increased 6% from the prior year. The increase was driven by continued fixed cost reductions across both people and non-people costs, combined with active management of marketing investments. For 2Q21, the adjusted operating margin for Continuing Operations increased 280 bps to 13.3%, while the adjusted EBITDA margin increased 420.0 bps to 20.1%.
Year-to-date reported operating loss from Continuing Operations of $49.0 million increased from a reported operating loss of $16.5 million due to lower sales, reduced gross profit, as well as higher acquisition and divestiture related expenses, partially offset by lower media investments and fixed cost expenses. Year-to-date adjusted operating income for Continuing Operations increased 11.4% to $269.5 million, with a margin of 10.6%, while the adjusted EBITDA totaled $449.9 million with a margin of 17.7%.
Total Coty

Net Income:

2Q21 reported net loss for Total Coty, which includes two months of contribution from Wella, of $275.4 million declined from a net loss of $21.1 million in the prior year, due to the impact of the Wella transaction costs as well as additional restructuring accruals under the fixed cost savings plan.

The 2Q21 adjusted net income for Total Coty of $133.8 million compared to $205.2 million in the prior year period, reflecting in part only 2 months of contribution from Wella in the current period.
Year-to-date reported net loss for Total Coty of $74.8 million compared to net income of $31.2 million in the prior year. Year-to-date adjusted net income of $217.4 million declined from $255.7 million in the prior year.
Earnings Per Share (EPS) - diluted:

2Q21 reported loss per share for Total Coty of $(0.36) compared to a reported loss per share of $(0.03) in the prior year.
2Q21 adjusted EPS for Total Coty of $0.17 versus $0.27 in the prior year, reflecting in part only 2 months of contribution from Wella in the current period.

Year-to-date reported loss per share for Total Coty of $(0.10) compared to reported net earnings per share of $0.04 in the prior year.
Year-to-date adjusted EPS for Total Coty of $0.28 versus $0.34 in the prior year.
Operating Cash Flow:

2Q21 cash from operations totaled $430.1 million compared to $422.1 million in the prior-year period, reflecting an increase in net income on a cash basis. First half operating cash flow totaled $472.7 million, an increase of $10.7 million from the same period of the prior year.
2Q21 free cash flow of $389.4 million increased from a free cash flow of $363.5 million in the prior year driven by the increase in operating cash flow of $8.0 million coupled with a $17.9 million reduction in capex. First half free cash flow of $361.1 million increased by $44.1 million from the prior year.
Financial Net Debt:

Financial Net Debt of $4,842.6 million on December 31, 2020 declined from $7,864.5 million on September 30, 2020. The decline was driven by gross proceeds of $2.9 billion from the closing of the Wella transaction, including $2.5 billion of proceeds from disposition and $0.4 billion return of capital, as well strong free cash flow generation of $389.4 million, partially offset by over $300 million of negative FX impact.

Immediate Liquidity:

Coty ended Q2 with $549.1 million in cash and cash equivalents, and immediate liquidity of $2,832.1 million, with comfortable headroom under its financial debt covenants
Second Quarter Business Review by Segment (Continuing Operations)

Americas

In 2Q21, Americas net revenues of $539.5 million or 38% of total Coty Continuing Operations, decreased by 7.2% versus the prior year. On a LFL basis, Americas net revenues decreased by 7.4%, or a mid-single digit decline when excluding the impact from the heavily impacted Travel Retail channel. While the mass beauty business was pressured by softness in the color cosmetics market, the prestige business recorded tremendous results with high single digit revenue growth supported by strength in prestige fragrances, cosmetics, and skincare.

During the quarter, we continued to see strength within U.S. prestige fragrances, with Marc Jacobs, Gucci, and Burberry delivering robust growth. We are particularly encouraged by the continued strong performance of Marc Jacobs Perfect, which was the #1 national fragrance launch in calendar 2020, and remains on track to be the largest Coty U.S. fragrance launch in 15 years. Once again Gucci saw robust sell-out across both fragrances and cosmetics. Gucci fragrance performance was supported by Gucci Bloom Profumo and Gucci Guilty. Meanwhile, Gucci cosmetics generated triple-digit sell-out growth, fueled by bronzer and mascara. In January, we further expanded the line to include a foundation and primer, with very strong initial results.

Within our mass beauty business, the cosmetics and fragrance categories remained pressured, with further deceleration in Q2 as COVID cases accelerated in parts of the U.S., impacting both store traffic and make-up usage occasions. At the same time, we continued to make headway in strengthening our focus brands. CoverGirl maintained momentum in its Clean Fresh franchise of face makeup, which we are continuing to build upon with the Q3 launch of Lash Blast Clean mascara. CoverGirl also continued to gain market share in the cosmetics category on Amazon. Meanwhile, Sally Hansen continued to be a solid market share winner in the U.S. In Brazil, our local brands remain well positioned amid the current environment, with our brands growing market share in the quarter, particularly in nail and deodorants.

During the quarter, e-commerce sales for the region increased over 50% in Q2 and over 60% in 1H21, with strong growth across both prestige and mass fueled by strong execution across e-retailers, brick & click, and DTC with philosophy.com. E-commerce penetration as a percentage of sales in the Americas region increased to the low teens, including significantly higher penetration in the prestige business.

The reported sales for the Americas segment benefited from the contribution from the Kylie Jenner joint venture, with Q2 sales consistent with Q1.

The Americas segment generated a reported operating income of $31.6 million in 2Q21, compared to a reported operating income of $21.5 million in the prior year. The 2Q21 adjusted operating income was $56.9 million, up from $34.2 million in the prior year, driven by close management of marketing investment and strong fixed cost reduction more than offsetting the sales decline. The adjusted operating margin was 10.5% versus 5.9% in the prior year.

EMEA

In 2Q21, EMEA net revenues of $708.9 million, or 50% of total Coty continuing operations, declined by 21.9% versus the prior year. On a LFL basis, EMEA net revenues declined 24.8%. While the LFL was pressured, sales trends remained consistent with Q1, despite a second wave of COVID-19 and multiple market lockdowns impacting the region exiting Q2,

In our prestige fragrance business, we continued to see strong performances of recent launches including Marc Jacobs Perfect, Hugo Boss Alive, and Hugo Boss Bottled. Marc Jacobs Perfect continued to be the #1 prestige fragrance launch in the U.K. for CY20, supporting market share growth for the overall brand. Hugo Boss Alive saw great performance as the #1 fragrance launch in Germany in CY20, and contributing to double digit sell-out growth for Hugo Boss female fragrances in the U.K. In our mass beauty business, Rimmel grew market share in the U.K., its top market, as well as Italy, Poland, and Spain, aided by the strong consumer reception to its Lasting Finish 25H foundation relaunch. Meanwhile, Sally Hansen gained share across the region, driven by market share growth in the U.K., Italy, and France.

2Q21 EMEA e-commerce sales grew approximately 30%, driving e-commerce penetration as a percentage of sales to the mid-20s percentage level, with strong growth in both prestige and mass.

Reported operating income was $88.0 million in 2Q21 versus reported operating income of $98.9 million in the prior year. The 2Q21 adjusted operating income of $118.4 million declined from $130.7 million in the prior year, driven by the lower sales, partially offset by controlled marketing spend and solid fixed cost reductions. For 2Q21, the adjusted operating margin rose to 16.7% from 14.4% in the prior year.

Asia Pacific

2Q21 Asia Pacific net revenues of $167.2 million, or 12% of total Coty continuing operations, decreased 13.9% on a reported basis and declined 17.2% LFL. Similar to last quarter, the bulk of the LFL decline was due to continued significant pressure in the travel retail channel, and to a lesser extent, the continued active reduction of sales to low value channels. Despite these headwinds, LFL trends showed a meaningful sequential improvement from Q1. Of note, our prestige business recorded high single digit sell-out growth in the region, fueled by both brick & mortar and online.

In China, sell-out trends for our prestige beauty brands in both brick & mortar and e-commerce remained strong, particularly in Gucci and Burberry. During the quarter, we continued see momentum in Gucci and Burberry's prestige cosmetics businesses, with Burberry make-up sell-out up 48% and Gucci make-up sell-out up over 400%. In fact, Gucci make-up ranked the #2 make-up brand among all beauty brands in social business, WeChat.

E-commerce sell-out in the region continued to grow solidly, particularly in prestige with over 20% growth, partially tempered by continued proactive reduction of low value sales.

Reported operating income in 2Q21 of $6.4 million increased from reported operating income of $5.6 million in the prior year. The 2Q21 adjusted operating income of $12.5 million rose from $11.8 million in the prior year, driven by reduced fixed costs and lower marketing investments. The 2Q21 adjusted operating margin of 7.5% increased from 6.1% in the prior year.

Second Quarter Fiscal 2021 Business Review by Channel (Continuing Operations)

Prestige

2Q21 Prestige net revenues of $903.7 million, or 63.8 % of Coty Continuing operations, decreased 11.1% as reported and decreased 15.6% LFL, reflecting significant sales trend improvement from the mid 20s decline in Q1. Continued pressure in Travel Retail accounted for half of the decline in the prestige business. Reported sales were aided by the inclusion of Kylie Beauty sales in the current quarter.
The improvement in sales trends vs. Q2 came despite additional waves of COVID, particularly in the EMEA region, which led certain markets to close or place additional restrictions on non-essential stores. Encouragingly, Prestige e-commerce sales grew over 40% in the quarter, representing a mid 20s penetration rate of Prestige sales in 2Q21. While Kylie's cosmetics business remained pressured from broader cosmetics category weakness, we saw good momentum in the Kylie Skin DTC business as well as strong consumer engagement with the brand.
Mass

2Q21 Mass net revenues of $511.5 million, or 36.1 % of Coty continuing operations, decreased 23.3% as reported and decreased 21.6% LFL. Mass sales continue to be challenged, largely due to lower demand for color cosmetics stemming from fewer usage occasions and reduced in-store traffic, particularly amid additional waves of COVID. Despite this pressure, Mass e-commerce sales continued to grow at a double-digit pace in the quarter, and represented a high-single-digit percent of our Mass business in 2Q21. Encouragingly, Coty brands continued to generate very strong growth both on retailer websites and on Amazon in the U.S., U.K., and Germany, with market share on Amazon nearly doubling in the quarter.
Discontinued Operations

Wella Business

2Q21 Wella net revenues of $419.9 million decreased 36.5% as reported and decreased 3.2% LFL, driven by pent up consumer demand for services following the global salon closures in 4Q20 and associated inventory replenishment for both retail and professional hair products, continued strength within retail hair, and solid e-commerce growth.
Noteworthy Company Developments

Other noteworthy company developments include:

On November 30, 2020 Coty completed the sale of a majority stake in Wella to KKR for gross proceeds of approximately $2.9 billion and net cash proceeds of approximately $2.5 billion. Coty will retain a 40% stake in the business, which will be carried on the books as a fair market value asset.
On December 2, 2020 Coty announced two additions to its leadership team with the appointments of Stefano Curti as Chief Brands Officer, Consumer Beauty, and Alexis Vaganay as Chief Commercial Officer, Consumer Beauty.
On December 9, 2020, Coty announced the promotion of Laurent Mercier to Chief Financial Officer effective February 15, 2021.
On December 21, 2020, Coty announced the appointment of two new Board Directors, Anna Adeola Makanju and Mariasun Aramburuzabala Larregui.
On January 5, 2021, Coty announced it completed the acquisition of a 20% ownership interest in Kim Kardashian West's business for $200 million, which had previously been announced in June 2020. Together, Coty and Kim Kardashian will focus on entering new beauty categories, including development of her skincare line, as well as global expansion of existing product lines.
On January 22, 2021, Coty announced the promotion of Stephane Delbos to Chief Procurement Officer, effective February 1, 2021.
On January 27, 2021, Coty announced the planned closure of its manufacturing site in Cologne, Germany, which comes as Coty consolidates its global fragrance operations. The closure, which will occur in stages, is expected to be completed by Summer 2022.


Conference Call

Coty Inc. will host a conference call at 8:00 a.m. (ET) today, February 9, 2021 to discuss its results. The dial-in number for the call is (866) 834-4311 in the U.S. or (720) 405-2213 internationally (conference passcode number: 1397791. The live audio webcast and presentation slides will be available at http://investors.coty.com. The conference call will be available for replay.

About Coty Inc.

Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, and skin and body care. Coty is the global leader in fragrance, and number three in color cosmetics. Coty’s products are sold in over 150 countries around the world. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment. For additional information about Coty Inc., please visit www.coty.com.

https://www.businesswire.com/news/home/20210209005405/en/Coty-Maintains-Momentum-in-Q2
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Enterprising Investor Enterprising Investor 3 years ago
Gucci Beauty Flagship Store Debuts on Tmall Luxury Pavilion (2/04/21)

Operated by license partner Coty, the digital flagship brings Gucci Beauty’s full range of make-up and fragrances to over 770 million consumers on the Tmall platform

NEW YORK--(BUSINESS WIRE)--Coty Inc. (NYSE: COTY), one of the world’s leading beauty companies and the global leader in fragrances, announced the opening of the Gucci Beauty flagship store on the Tmall Luxury Pavilion, Alibaba’s dedicated platform for the world’s leading luxury and premium brands.

The digital store connects Gucci Beauty products with more than 770 million Chinese consumers on the Tmall platform, who will now have the opportunity to experience and purchase items from Gucci Beauty’s full range of make-up and fragrances, including favorites Rouge à Lèvres Mat lipstick and Poudre De Beauté Mat Naturel face powder. The collaboration provides consumers with a world-class experience and trusted shopping environment, whilst enabling Gucci Beauty to significantly scale up its reach and engagement within the Chinese luxury market.

Sue Y. Nabi, Chief Executive Officer of Coty, said: “Coty’s prestige cosmetics and skincare retail sales in China grew by over 40% last quarter, with Gucci Beauty delivering double digit sell-out growth there last year. Tmall Luxury Pavilion is an outstanding platform to build on this excellent recent performance. In our flagship store, we look forward to further engaging our Chinese consumers, who are so passionate about beauty and iconic brands like Gucci.”

Marco Bizzarri, Chief Executive Officer and President of Gucci, said: “Through a close strategic collaboration with our partner Coty we are now able to give Tmall Luxury Pavilion’s consumers dedicated access to the complete world of Gucci, from fashion collections to beauty products, complementing the powerful digital ecosystem we have built over the past years.”

Michael Evans, President of Alibaba Group, said: “As Chinese consumers look to engage with iconic brands like Gucci and Gucci Beauty, they expect an experience that is digitally sophisticated and seamless. Following Gucci’s successful launch on the Tmall Luxury Pavilion, we are delighted to work with Gucci Beauty as they build even greater engagement and success in China.”

Guilhem Souche, China Managing Director of Coty, said: “2021 is an incredibly important year for Gucci Beauty in China and we have extremely ambitious plans to grow the brand and bolster the luxury market. In addition to our leadership position in fragrance and an iconic lipstick collection, we have recently launched the brand’s first foundation to provide a relevant shade range for the Chinese consumer – a product we expect to really resonate with this audience. Now, with the launch of Gucci Beauty’s very own Tmall flagship we complement our already strong brick and mortar footprint, making it quicker, slicker and safer for Chinese shoppers to engage with the brand, live a unique Gucci Beauty experience and enjoy these outstanding products.”

Today’s launch follows the opening of the first flagship store by Gucci on Tmall Luxury Pavilion dedicated to its fashion collections in December 2020.

Tmall Luxury Pavilion launched in 2017 and is now home to more than 200 brands with products ranging from apparel and beauty items to watches and luxury cars. Offering a unique, distinctive environment, Tmall Luxury Pavilion enables brands to bring the same custom-tailored experience and sense of exclusivity from their brick-and-mortar stores to China’s online shoppers.

Brands maintain complete control over the look, feel and experience for consumers as well as pricing and merchandising. Alibaba provides partner brands with insights from its consumer base of more than 770 million to more effectively engage with and identify future consumers.

The Gucci Beauty Tmall flagship store is now open (https://guccibeauty.tmall.com).

About Coty Inc.

Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, and skin and body care. Coty is the global leader in fragrance and number three in color cosmetics. Coty’s products are sold in over 150 countries around the world. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment. For additional information about Coty Inc., please visit www.coty.com.

About Tmall

Launched in 2008, Tmall (www.tmall.com) caters to consumers’ ever-growing demand for high-quality products and premium shopping experience. It serves as a platform for consumers in China and overseas to buy both homegrown and international branded products as well as products not available in traditional retail outlets. A large number of international and Chinese brands and retailers have established storefronts on Tmall. In the 12 months ended March 31, 2020, Tmall was the largest third-party online and mobile commerce platform for brands and retailers in the world in terms of GMV, according to Analysys, and continues to grow quickly. Tmall is a business of Alibaba Group.

https://www.businesswire.com/news/home/20210204006040/en/Gucci-Beauty-Flagship-Store-Debuts-on-Tmall-Luxury-Pavilion
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ClayTrader ClayTrader 3 years ago
* * $COTY Video Chart 02-09-2021 * *

Link to Video - click here to watch the technical chart video

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Enterprising Investor Enterprising Investor 3 years ago
Coty Completes Purchase of 20% Stake in Kim Kardashian West Business (1/05/21)

Strategic partnership focused on developing Kardashian West’s new beauty business globally

Acquisition closes on schedule

Kardashian West’s skincare line on track to its expected launch in fiscal year 2022

NEW YORK--(BUSINESS WIRE)--Coty Inc. (NYSE: COTY), one of the world’s largest beauty companies and the global leader in fragrances, today announced the completed acquisition of a 20% ownership interest in Kim Kardashian West's business for $200M.

The strategic transaction was announced in June 2020 and successfully completed on schedule in Q3 fiscal year 2021. Together, Coty and Kardashian West will focus on entering new beauty categories and global expansion beyond existing product lines. This includes the development of her skincare line, which remains on track for an expected launch in fiscal year 2022.

Sue Y. Nabi, Chief Executive Officer of Coty, said: “Kim shares our true passion for beauty products, and this acquisition allows us to leverage our respective strengths for mutual benefit and value creation. Coty brings unique IP in skincare, the scientific knowledge of the skin as reflected in our formulation know-how, while Kim brings a huge global following and unparalleled influence over consumer choice. She has a unique ability to read the latest beauty and wellness trends, while we have the expertise on global product positioning, access to a vast global distribution network, and the resources to enter new beauty categories. I look forward to working closely with Kim and her team and I’m excited by everything we will achieve together.”

Kardashian West and her team will lead the creative efforts relating to product and communications initiatives, building on her remarkable global reach capabilities through social media. Coty will have overall responsibility for the portfolio’s development (skincare, haircare, personal care and nail products), leveraging its deep understanding of the industry and its commercial and go-to-market expertise. Through this relationship each party will leverage its unique strengths to enhance a high growth, direct-to-consumer (DTC) first beauty brand. Products will be sold through leading luxury beauty retailers, as well as owned digital channels.

Kim Kardashian West said: “I’m so proud of how the KKW brand has grown over the past four years, and I look forward to working with Coty for the next phase of innovation, advancement, and the ability to bring new launches to customers all around the world. This relationship will allow me to lead the development of the creative elements that I specialize in, while benefiting from the incredible resources of an established company like Coty.”

Kardashian West is one of the world’s highest-profile and influential consumer personalities, with 300 million followers across her personal and brand social media channels and a large global audience. She first emerged as a leading star with the success of the TV series ‘Keeping Up with the Kardashians’. In late 2020, it was announced that Disney is working with the Kardashian-Jenner family on global content on its Hulu and Star platforms.

https://www.businesswire.com/news/home/20210105005325/en/Coty-Completes-Purchase-of-20-Stake-in-Kim-Kardashian-West-Business
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ClayTrader ClayTrader 3 years ago
* * $COTY Video Chart 12-22-2020 * *

Link to Video - click here to watch the technical chart video

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KennyPro KennyPro 3 years ago
Ahhhh That's much better.
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KennyPro KennyPro 3 years ago
Pre market falling AGAIN! Looks like they do not like this mornings news?...MORE SALARIES I guess is the stink in the update?

Coty Inc. (NYSE: COTY), one of the world’s leading beauty companies and the global leader in fragrances, today announced two leaders to drive its Consumer Beauty organization. Stefano Curti will join the company as Chief Brands Officer, Consumer Beauty, while Alexis Vaganay will be promoted to Chief Commercial Officer, Consumer Beauty. The appointments come as CEO Sue Y. Nabi strengthens her leadership team, following the recent additions of Isabelle Bonfanti as Chief Commercial Officer, Luxury, and Jean-Denis Mariani as Chief Digital Officer.
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realfast95 realfast95 3 years ago
Insider buying last week looks impressive at least the directors are backing their own decisions.
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Greedy G Greedy G 4 years ago
https://www.stockscores.com/chart.asp?TickerSymbol=COTY&TimeRange=180&Interval=d&Volume=1&ChartType=CandleStick&Stockscores=1&ChartWidth=1100&ChartHeight=480&LogScale=None&Band=BB&avgType1=EMA&movAvg1=&avgType2=SMA&movAvg2=&Indicator1=RSI&Indicator2=MACD&Indicator3=ADX&Indicator4=BBW&endDate=&CompareWith=&entryPrice=&stopLossPrice=&candles=redgreen
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Greedy G Greedy G 4 years ago
~COTY LOOKn so good so nice
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Greedy G Greedy G 4 years ago
~COTY you are performing just fine
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KennyPro KennyPro 4 years ago
Well EC that is certainly possible I suppose. I am glad I added a thousand shares last week....what a nice pop yesterday! Wow. Next stop 10 dollars!
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elcheepo elcheepo 4 years ago
Kenny.. I told my partner, this is a dreamer, 15$ is realistic
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Greedy G Greedy G 4 years ago
https://www.stockscores.com/chart.asp?TickerSymbol=COTY&TimeRange=180&Interval=d&Volume=1&ChartType=CandleStick&Stockscores=1&ChartWidth=1100&ChartHeight=480&LogScale=None&Band=BB&avgType1=EMA&movAvg1=&avgType2=SMA&movAvg2=&Indicator1=RSI&Indicator2=MACD&Indicator3=ADX&Indicator4=BBW&endDate=&CompareWith=&entryPrice=&stopLossPrice=&candles=redgreen
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Greedy G Greedy G 4 years ago
~yup.

Check SONO. Bought 12/18 $30 calls today, & I’m already up.
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ClayTrader ClayTrader 4 years ago
* * $COTY Video Chart 11-19-2020 * *

Link to Video - click here to watch the technical chart video

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elcheepo elcheepo 4 years ago
This is a winner

Also watching TAP
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Greedy G Greedy G 4 years ago
~LQQKs like more bank to be made...COTY
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KIRBY KIRBY 4 years ago
picked up some COTY $6.30 g/l to all.
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