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Coty, the cosmetics and fragrances group has raised its sales and margin guidance for the first quarter of 2023.
Coty expects organic growth of between 8 % and 9 % in the first quarter of 2023, compared with 6 % to 8 % in previous quarters.
The North American group’s beauty products have been in strong demand since last year. Consumers are fighting the inflation blues by taking solace in fragrances and cosmetics.
Market observers see a new trend: the “lipstick effect”.
Already, in the fourth fiscal quarter published at the end of August, the group had posted sales of 1.17 billion dollar, better than the consensus of 1.15 billion dollar. Excluding exceptional items, earnings per share, established at -1 cent, were in line with analysts’ forecasts.
And Coty does not intend to stop there: it aims to double its sales of beauty products to 500 to 600 million dollars by 2025.
“Coty’s prestige skincare brands cover the most promising segments of the skincare market. At the same time, our research and development efforts are focused on consumer needs. All of this gives us confidence that we can seize significant opportunities in the 150 billion dollars global skincare market.” said a company spokesperson.
Coty is convinced: the “lipstick” effect is here to stay…
Read also >Coty Group: Results above expectations, supported by strong demand
Coty and Estée Lauder maintain quarterly sales thanks to the “lipstick effect”
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Coty, the cosmetics and fragrances group has raised its sales and margin guidance for the first quarter of 2023.
Coty expects organic growth of between 8 % and 9 % in the first quarter of 2023, compared with 6 % to 8 % in previous quarters.
The North American group’s beauty products have been in strong demand since last year. Consumers are fighting the inflation blues by taking solace in fragrances and cosmetics.
Market observers see a new trend: the “lipstick effect”.
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Coty, the cosmetics and fragrances group has raised its sales and margin guidance for the first quarter of 2023.
Coty expects organic growth of between 8 % and 9 % in the first quarter of 2023, compared with 6 % to 8 % in previous quarters.
The North American group’s beauty products have been in strong demand since last year. Consumers are fighting the inflation blues by taking solace in fragrances and cosmetics.
Market observers see a new trend: the “lipstick effect”.
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