Coty Inc. has been named the Most Innovative Company of 2011 by the Consumer Goods Technology (CGT) Group. Recognition is determined by CGT Group's board of directors, which includes executives from Alberto Culver, P&G, Unilever, Nestle, Accenture, Miller-Coors, Gartner Group, DelMonte Foods and Rubbermaid.
Three of Coty's products were recognized as being the most innovative: Rimmel Lash Accelerator, for its Lash Growth Technology; Sally Hanson Salon Manicure, for the first encapsulation in nail lacquer; and Sally Hanson Special Effects, for its patented film technology, according to CGT Group.
"Coty is thrilled to accept this prestigious honor," said Bernd Beetz, CEO of Coty. "We are humbled to be recognized by a board of peers who are industry giants in their respective companies. At the helm of this great company for 10 years now, I have seen first-hand the drive and creativity that embodies all those who work at Coty. I am confident that this achievement will propel us even further as we continue strengthening our innovation pipeline and delivering products that consumers love."
"These products and their subsequent recognition are the result of great team work as we drive our innovation process to new levels," said Ralph Macchio, SVP, global R&D and chief scientific officer. "The science behind Coty's product portfolio uniquely reflects the team's successful response to the evolving demands of consumer habits and retail trends. We are all very excited to be recognized for our strong innovation performance in a highly competitive marketplace."