The American group outperformed its rival Estée Lauder between July and September. In decline, the Asian market, and therefore the Chinese market, only accounts for 11% of sales.
Coty continues to prove resilient in a challenging beauty market.
After closing the 2023-24 financial year with double-digit sales growth,the American group closed the first quarter of its offbeat financial year at the end of September with a respectable result.
Owner of numerous fragrance, make-up and cosmetics brands and licenses (Bourjois, Lancaster, Burberry, Chloé, Hugo Boss... ), the group has just announced net sales of $1.671 billion, up 2% on a reported basis. This “takes into account a 1% unfavorable currency effect and a 1% effect from the disposal of the Lacoste license.”
Better than L’Oréal and Estée Lauder
On a like-for-like basis, growth was 4.5%, “despite the very high comparison with the previous year”, during which Coty’s like-for-like sales rose by 18%…
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Read also > Coty completes a very respectable 2023-24 financial year
Featured Photo: © Coty
