Coty Focused On Mass Beauty, Kylie Skin Care Growth As Turnaround Effort Meets COVID-19
In its third-quarter earnings call, Coty leadership discussed promising “green shoots” and the firm’s highly focused strategic priorities in the shadow of the COVID-19 pandemic.
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Earth Day Review: Beauty Industry Stakeholders Unite; TerraCycle Influence Grows; New Sustainable Products
There was no drought of sustainable beauty news surrounding Earth Day 2021. Announcements show companies innovating in eco-friendly directions and collaborating to promote green packaging and recycling.
Coty will leverage Kim Kardashian West’s influence with her roughly 300m social-media followers as it expands her KKW brand into new product categories and geographies, according to the firm’s 29 June announcement. The $200m transaction for 20% of the celeb’s business follows a $600m deal with half-sister Kylie Jenner, completed in January.
Marking Coty’s fourth CEO appointment in less than four years, current chairman Peter Harf will lead the firm’s newly created executive committee, which also includes Coty’s CFO and Gordon von Bretten, announced on 28 May as Coty’s first-ever chief transformation officer. Von Bretten joins Coty from investment firm KKR, which is buying Coty’s professional beauty and retail hair-care businesses.