Global Apparel Market – An Overview | Watch NOW! | Ad
Home / Knowledge / News / Fashion / Coty Inc earns highest revenues to-date
Coty Inc earns highest revenues to-date
12
Sep '08
Coty Inc, a global beauty leader and the world's largest fragrance company, announced record-breaking revenues for the sixth consecutive fiscal year with net sales totaling $4 billion for the fiscal year ending June 30, 2008, up 23 percent from 2007.

"Coty's talent in identifying and interpreting the latest consumer trends is the engine of our success," said Bernd Beetz, CEO of Coty Inc.

"With innovation at the heart of our business, we are focused on creating dynamic new brands and expanding our fragrance, skin care and color cosmetics portfolios to deliver the highest quality products for our consumers."

The Coty Prestige division ended the fiscal year with net sales reaching $2.1 billion, 16 percent ahead of the prior fiscal year.

Steady growth in existing markets and robust growth in emerging markets, including the Middle East, Russia, China and Southeast Asia, were prime growth drivers for Coty Prestige.

Daisy Marc Jacobs enjoyed global success, holding the number one prestige fragrance position for four consecutive months in Japan, and it was named Fragrance of the Year in the Women's Luxe category at the Fragrance Foundation's 36th annual FiFi Awards in May 2008.

Success behind the houses of Calvin Klein, Vera Wang, Chloe, Joop!, Lancaster and Davidoff accelerated growth for Coty Prestige as well.

Ending the fiscal year with net sales of over $1.9 billion, a 33 percent increase from fiscal year 2007, the Coty Beauty division's success was primarily driven by new launches including Kate by Kate Moss, Kylie Minogue Sweet Darling and Showtime, and David Beckham Intimately Night, as well as the continued strength and growth of the adidas and Rimmel brands and the acquisition of Del Laboratories Inc.

The acquisition of Del Laboratories Inc, a move that integrated popular skin care and color cosmetics brands Sally Hansen, N.Y.C. New York Color and La Cross into the Coty Beauty portfolio, bolstered Coty's presence in the color cosmetics and nail care market share.

With a steady sales foothold in Western Europe and the United States (54 percent and 32 percent of company's worldwide sales, respectively), Coty intensified its expansion into emerging markets like Asia and Australia (seven percent of worldwide sales).

The expansion in Asia is attributed to the strong performances from the adidas, Rimmel, Calvin Klein, Marc Jacobs, Sarah Jessica Parker, Chloe, Kate Moss, and David Beckham fragrances, as well as a new joint venture in China.

"By investing in and growing our existing brands and alternatively through strategic acquisitions, Coty will continue to achieve and exceed its goals, strengthening the company's presence as a global beauty leader," added Beetz.

Building on the success of the past seven years, Coty will focus the coming financial year on continuing business growth, creating a sizeable skin care business, leveraging Coty'sglobal scale and investing in organizational capabilities.

Coty is represented by many of the best-known brands in the beauty industry and delivers its innovative products to consumers in 90 markets.

Coty Inc


Must ReadView All

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Headhonchos, Indian fashion industry

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search