The New York Stock Exchange-listed company has seen strong momentum in demand for beauty products across major markets and categories since first announcing its outlook a month ago. According to the company, demand is particularly high for luxury fragrances.
Coty is also celebrating the early success of its Burberry Goddess fragrance, which was launched with a disruptive in-store activation and is reportedly setting new market records. According to Coty, the fragrance was launched in the United States in his August 2018 release and has been “a triumph in the market, selling several times higher than recent competing blockbuster releases.” ”
Two other Coty fragrance innovations also made it into the fall’s top five, the company said.
Driven by these successes, the company now expects core LFL sales growth of 10-12% in the first half of 2024, up from previous expectations of +8-10%.
Sue Navi, CEO of Coty, said: “The success of Burberry Goddess in key markets has made Coty the go-to destination for creating the highest quality, award-winning fragrances and executing unique and disruptive campaigns. This confirms that.”
“We have spent the past three years strengthening Coty’s fundamentals and increasing Coty’s organizational capabilities across categories. We enter our next phase of growth with best-in-class innovation and marketing capabilities.”
China’s opportunities
As recently reported by CosmeticsDesign-AsiaThe company is looking to further grow Burberry Beauty in China after recent successes in makeup and fragrance, and is also on the verge of launching its first refillable perfume bottle.
At the company’s fourth-quarter earnings conference, CEO Su Y. Nabi highlighted Burberry Hero’s rise to the No. 3 men’s fragrance ranking in China.
The company says it is behind the blockbuster fragrances “Bleu de Chanel” and “Dior Sauvage.”
