×
195
Fashion Jobs
3FATE TECHNOLOGIES PVT LTD
Production Manager-Garment Manufacturing- Saree, Salwar Suit & Lehenga
Permanent · Kanpur
PUMA
Manager- Ecommerce Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
PUMA
Digital Marketing Manager
Permanent · Bengaluru
EXPLODE SERVICES
Quality Assurance Manager Home Furnishing Garments For Noida
Permanent · Noida
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
GOKALDAS EXPORTS LTD
sr. Manager - Technical - Garments Industry Background
Permanent · Bengaluru
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
NIKE
Software Engineering Manager, Finance & Procurement Technology – cf&c
Permanent · Bengaluru
By
Reuters
Published
May 11, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Coty's prestige brands return to growth as restrictions ease

By
Reuters
Published
May 11, 2021

​Coty Inc’s biggest business that includes brands such as Burberry perfumes and Gucci foundations returned to growth in the third quarter after a tumultuous 2020, while the cosmetics maker’s net loss narrowed sharply.


Sales at the company’s Prestige unit that makes Gucci lipstick and Philosophy skincare rose 6.5% to $600.6 million, the first rise in over a year - Gucci


The company saw its sales plummet last year, as stuck-at-home consumers found little use for makeup. Coty is now tapping into pent-up demand for luxury beauty products in China and the United States to offset the declines.

Sales at the company’s Prestige unit that makes Gucci lipstick and Philosophy skincare rose 6.5% to $600.6 million, the first rise in over a year.

Still, restrictions in certain parts of Europe, including UK and France, imposed to curb surging virus cases hampered demand for the company’s products in the third quarter. Sales for the region fell 7.8%, while the Asia Pacific region, which includes China, rose nearly 28%.

“We are starting to see some improvement in the UK ... seeing lockdowns being lifted will hopefully help us build in the fourth quarter,” Chief Executive Officer Sue Nabi told Reuters.

Coty is also hoping to mirror its success in China in the United States, as the country begins to reopen helped by speedy vaccine distributions.

“In the U.S., part of the business is still a little bit under pressure due to the mass business, but Prestige is growing,” Nabi added.

The New York-based company’s shares, which have gained nearly 50% so far this year, were down about 5% at $9.84 in premarket trade.

Coty’s net revenue fell about 3% to $1.03 billion, in line with expectations, while the company broke even on profit.

Net loss attributable to common stockholders was $18.5 million in the quarter ended March 31, compared with a loss of $271.6 million a year earlier.

© Thomson Reuters 2022 All rights reserved.