Despite falling sales, the beauty giant believes social media advocacy – combined with new forays on Amazon and TikTok Shop – will fuel brand growth.
Coty is launching a “multi-pronged attack” to drive growth after admitting to being unsatisfied with sales, with the beauty giant calling 2025 its “transition year”.
In its results for the third quarter ending 31 March 2025, the parent company of Rimmel and CoverGirl reported a decrease in net revenue of 6% to $1.3bn (£975m).
Coty also saw net revenue fall 2% year-on-year to $4.64bn (£3.48bn) during the nine months ending 31 March.
“While we are not satisfied with our net revenue performance, Coty’s strong fundamentals, coupled with our multi-pronged attack-plan for accelerating innovation, distribution and efficiencies, gives us confidence for the years ahead,” said CEO Sue Nabi.
