The owner of Kylie Cosmetics, Rimmel, Covergirl and Bourjois, has reported a strong Q4 performance, with double digit growth in both sales and profits. For the full fiscal year 2022-2023, closed on June 30, Coty posted sales growth of 12%, to EUR 5.55 billion, ahead of expectations. The group’s operating income more than doubled to USD 543.7 million (EUR 500 million). “In sum, Coty is successfully executing on the strategy we laid out 3 years ago,” said the company in a statement.
The news follows a series of major announcements, including Adidas license renewal, sale of Coty’s remaining Wella shares and, most recently, the relaunch of Marc Jacobs Beauty.
Long-time allies in the fragrance category, the two companies have indeed added the beauty category to their agreement while extending the license for over 15 years.
“The expansion and extension of our longstanding agreement with the house of Marc Jacobs, now in its 20th year, is a testament to the enduring success of our partnership and the brand’s limitless potential. Through its partnership with Coty, Marc Jacobs’ Fragrances have achieved great success, growing to become one of the top 10 female fragrances world-wide, thanks to the iconic Daisy Marc Jacobs and Perfect Marc Jacobs franchises. The revival of Marc Jacobs’ cosmetic portfolio, now in partnership with Coty, is eagerly anticipated by consumers around the world who have been campaigning for its return. This agreement reinforces Coty’s position as a go-to partner for global fashion houses and brands that share our ambition of creating leading beauty portfolios,” said Sue Nabi, Coty’s CEO.
The first Marc Jacobs Beauty collection originally launched in 2013, in partnership with Kendo Brands, and was discontinued at the end of 2021.