Coty posts record FY revenues for sixth time running
NEW YORK Coty Inc.—which acquired in late 2007 Del Laboratories, a move that bolstered Coty’s presence in color cosmetics and nail care—announced on Friday that it posted record-breaking revenues for the sixth consecutive fiscal year.
Total net sales for the fiscal year ended June 30 totaled $4 billion, up 23 percent from 2007.
The Coty Prestige division ended the fiscal year with net sales of $2.1 billion, 16 percent ahead of the prior year period.
Meanwhile, the Coty Beauty division—which benefited from the strength of the adidas and Rimmel brands and the acquisition of Del Labs—posted sales of more than $1.9 billion, a 33 percent boost from the year-ago period.
The acquisition of Del Labs, which closed at the end of 2007, integrated the skin care and color cosmetics brands Sally Hansen, N.Y.C. New York Color and La Cross into the Coty Beauty portfolio, bolstering 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 the company’s worldwide sales, respectively), Coty intensified its expansion into emerging markets like Asia and Australia (7 percent of worldwide sales). The expansion in Asia is attributed to the strong performances from the adidas, Rimmel, Calvin Klein, Marc Jacobs, Sara 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,” stated Bernd Beetz, chief executive officer of Coty.