VITL - COTY Benefits From Focus on Growth Pillars Amid Cost Woes | Benzinga
Coty Inc. (NYSE: COTY) continues to benefit from robust growth in the global beauty market, driven by a strong brand presence and consumer demand for fragrances, cosmetics and skincare. With a focus on six growth pillars, the company demonstrates a proactive approach to sustainable growth. Also, the company's commitment to strategic partnerships enhances its competitive position across the beauty market.
However, COTY encounters difficulties in managing a costly operating environment. Let's delve deeper.
Focus on Core Priorities
The Zacks Rank #3 (Hold) company is benefiting from its focus on six strategic pillars, which include stabilizing Consumer Beauty make-up brands and mass fragrances; accelerating luxury fragrances and setting up Coty as a core player in prestige make-up; establishing a skincare portfolio in prestige and mass channels; strengthening e-commerce and Direct-to-Consumer (DTC) capabilities; growing presence in China via Prestige and certain Consumer Beauty brands; and setting Coty as an industry leader in sustainability.
In this regard, Coty is reaping benefits from the booming global prestige fragrance market. In third-quarter fiscal 2024, the company's prestige fragrance net revenues increased 12% Like-for-like, supported by several growth engines and strength in existing icons along with contributions from new launches. Coty's e-commerce ...