Coty reveals long-term growth plans
Coty has revealed its new All-in to Win program, following the announcement of its financial goals for FY25 and beyond.
The All-in to Win strategy aims to encompass cost saving and capital deployment initiatives, with the hope to ignite Coty's full potential.
The company's financial goals reveal its plans to expand its gross margin and cost savings, allowing Coty to reinvest into key strategic initiatives and deliver annual profit growth.
Over the coming years, Coty expects to benefit from an improving beauty market, including a stronger US and Chinese market and steady improvement across Europe.
Looking ahead, Coty forecasts its net revenue to grow 6% to 8% annually to FY25 and beyond, ahead of its expected beauty market growth of 3% to 5%.
Coty also plans to establish the company as a key player in prestige make-up and build a skincare portfolio across its Prestige and Consumer Beauty divisions. Along with enhancing its e-commerce and direct-to-consumer capabilities and establishing Coty as an industry leader in sustainability.
With brands including Rimmel, Bourgeois and Sally Hansen, Coty emphasises its mission to "challenge the definition of beauty and to encourage authenticity and celebrate diversity in the industry".