Coty names new Chief Commercial Officer for prestige division

Coty, the owner of Kylie Cosmetics and Rimmel London, has appointed Caroline Andreotti as Chief Commercial Officer for its prestige division, effective 1 April 2023.

Andreotti succeeds Isabelle Bonfanti, who is stepping down to "focus on interests outside of the company".

In her new role, she will focus on Coty's global commercial prestige strategy. Andreotti will also reinforce its presence in Asia and accelerate the group's skincare growth journey, whilst continuing to grow its historical fragrance portfolio globally.

Andreotti ​has worked at Coty for around 15 years. Currently Executive Vice President of Global Travel Retail, she also has expertise in the Asian market, having worked various roles in this region from 2008 to 2020. Most recently, she led the global skincare commercial expansion agenda for three of Coty's prestige skincare brands: Orveda, Lancaster and Philosophy.

Prior to joining Coty, Andreotti served as Sales and Marketing Director in China for Elizabeth Arden.

In a statement, Coty said: "Caroline is a highly experienced and respected Coty leader with more than 20 years of experience and an outstanding track record in fragrance, skincare, bodycare and colour cosmetics.

"We thank Isabelle for her passion and leadership over the past years, laying the foundations for Coty’s long-term success in our prestige division."

Earlier this month, Coty updated its outlook for the third quarter as it looks to reinvest in skincare initiatives and recent launches. The group forecasts a 10% increase in like-for-like sales for Q3. As a result, it is expecting FY23 sales growth to be at the upper end of its prior guidance of 6-8%.