Coty Aims To Prove Naysayers Wrong With Another Kardashian Bet
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.
You may also be interested in...
During Coty’s recent strategic update webcast, CEO Sue Nabi discussed what went wrong at CoverGirl in recent years and how the brand is reembracing its heritage to deliver “clean beauty to all.”
Sue Nabi, who started as CEO at Coty in September, believes the company can do better than CoverGirl’s previous relaunch, which championed individual expression with the somewhat head-scratching tag, “I Am What I Makeup.” The brand’s future is in “clean,” she suggested during Coty’s first-quarter earnings call.
The highly anticipated solution to Coty’s biggest problem, new CEO Sue Nabi, addressed analysts for the first time during the firm’s 27 August fourth-quarter and full-year earnings call. Coty is counting on Nabi’s brand turnaround savvy and Asian market experience gained at L’Oreal, as well as her entrepreneurial vision, to make the company profitable again in the new fiscal year and fuel forward growth.