THE WHAT? Coty has unveiled its long-term strategy, underpinned by six priorities for sustainable growth. The initiatives build on the actions taken by the US beauty behemoth over the past year that have accelerated its shift to sustainable and profitable growth.
THE DETAILS CEO Sue Y Nabi outlined the six strategic priorities to investors, namely: the stabilization of Consumer Beauty make-up brands and Mass fragrances; the acceleration of luxury fragrances and building Coty’s reputation as a key player in prestige make-up; building a skin care portfolio across both mass and luxury; expanding in China and establishing the company as a sustainability leader.
THE WHY? Nabi explains, “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 skin care. 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.
“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.”