PRISM MarketView Consumer Products Index Top Mover: Coty
Coty (NYSE: COTY), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care, saw its stock up almost 4% after reiterating FY24 outlook of +9-11% like-for-like revenue growth and +11-12% adjusted EBITDA growth as well as the CEO and CFO’s plans to present at the 2024 Consumer Analyst Group of New York Conference. With that, the company is a top mover in PRISM MarketView’s Consumer Products Index, which tracks small and micro-cap companies that are designing, developing and marketing innovative consumer products. COTY stock finished the day trading up 3.86%.
CEO Sue Nabi and CFO Laurent Mercier provided an updated on Coty’s strategic and financial progress as well as its outlook on the future of the beauty industry, where it has consistently outperformed the market over the past three years. In particular, the company engages in advocacy marketing to capture growing market demand and interest. Coty intends to “deliver a best-in-class medium-term growth algorithm and drive leverage towards 2X exiting CY25.”
“We are demonstrating at full scale that Coty is the natural destination for top fashion licenses, thanks to our ability to build global Top 10 fragrance houses in less than 5 years,” Nabi said. “Through best-in-class science, innovative technology and marketing that reaches consumers around the world, we predict our brands, products and new innovations will continue to shine.”
Founded in Paris in 1904, Coty has pioneered innovation in the beauty industry for the past 120 years, serving consumers around the world and selling prestige and mass market products that “empower people to express themselves freely” in more than 125 countries and territories. According to Coty, “we stand for the beauty of diversity and the diversity of beauty.”
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About Coty Inc.
Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. We serve consumers around the world, selling prestige and mass market products in more than 125 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and we are committed to protecting the planet. Learn more at coty.com or on LinkedIn and Instagram.
