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Sally Hansen, Rimmel and Chloe are selling well.
May 7, 2015
By: Melissa Meisel
Coty Inc. posted financial results for the third quarter of fiscal year 2015, ended March 31, 2015. Net revenues decreased 7% to $933.8 million. For the nine months, net revenues fell 4% to $3.4 billion. Commenting on the Coty's performance, Bart Becht, chairman and interim CEO, said: “Q3 was our second consecutive quarter behind our new strategy of driving revenue growth on our power brands and returning Coty to profitable growth behind efficiency programs. We have made excellent progress in driving profit growth behind efficiency programs, as shown by the 24% growth in Q3 adjusted operating profits. As our success in this area is very good, we will be looking to increase the $200 million target for our global efficiency plan. We will come back to this as part of our FY15 results discussion. Power brand and overall growth on the other hand is still muted despite some bright spots like Sally Hansen, Rimmel and Chloe. Now that we have created more space in the P&L through our efficiency programs, our objective is to re-invest part of those savings to steadily improve our growth track record going forward.” The company recently named Elio Leoni Sceti as CEO and Camillo Pane as EVP of Category Development, as previously reported in Happi. Coty also welcomed the Bourjois brand to its portfolio in April 2015.
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