Mass market beauty brands Rimmel and Maxfactor look set to play a key role in boosting Coty\u2019s financial performance in 2022 \u2013 building on the 37.9% rise in like for like mass channel revenues reported in the fourth quarter of 2021.<\/p>\n
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The boost in mass channel revenues reported in Q4 2021 follows a brand repositioning for Rimmel and Max Factor in the US earlier this summer, which is being rolled out across Europe now.<\/p>\n
Growth in Coty\u2019s mass market channel was reported across all regions, with Rimmel holding its #1 position in the UK makeup market and achieving its highest market share in 10 consecutive months.<\/strong><\/p>\n Commenting on the operating results, Coty Chief Executive Officer Sue Y Nabi, said: \u201cIn our consumer beauty brands, we are clearly seeing CoverGirl's transformation take hold with consumers, as the brand gained market share for three consecutive months, for the first time in five years.<\/p>\n \u201cWe are excited about the path ahead for Rimmel and Max Factor, as the new brand positioning, communication and visuals are being introduced now across European markets.\u201d<\/strong><\/p>\n Coty is also anticipating continued fragrance momentum as it enters the first quarter of 2022, with growth set to be fuelled by a \u201cstrong launch calendar,\u201d it said.<\/p>\n Prestige fragrance brands including Gucci, Marc Jacobs, Burberry, Calvin Klein and Chloe, all delivered \u201cstandout\u201d performances in the last quarter of 2021, with all having posted double-digit growth. \u00a0<\/strong><\/p>\n The newly relaunched Kylie cosmetics line was also seeing \u201cgreat momentum on and off-line in the US and across Europe\u201d Coty added.<\/p>\n The fragrance and cosmetics giant recently reported an 89.6% rise in revenues for the fourth quarter of 2021 or 80.7% like for like - ending the year with revenues of $4.63bn - above the high end of its $4.5-4.6bn guidance range.<\/strong><\/p>\n While all regions returned to year on year growth in Q4, the US and China markets were standouts.<\/p>\n \u201cWe have also made great strides on our objectives of becoming a key player in prestige cosmetics and strengthening our skincare portfolio,\" \u00a0Sue Y Nabi added.<\/p>\n \"Gucci and Burberry makeup are already amongst the Top 25 makeup brands in China overall only a couple of years post launch and Gucci makeup now ranks in the Top 10 within the US and Europe doors where it is present.<\/p>\n \u201cWe intend to capitalize on this momentum in FY22, significantly expanding both our distribution and assortment.<\/p>\n \u201cThis operational and strategic progress was achieved without sacrificing our financial delivery, with FY21 gross margins of 60% back to FY19 levels and adjusted EBITDA margin of 16% up over 300 bps vs FY19, setting the baseline for further expansion in the coming years.<\/p>\n \u201cImportantly, with two months into the new FY22 year, I am extremely encouraged by the momentum we are seeing across the business.<\/p>\n \"As we continue to make tangible progress in each of our focus areas, I am more confident than ever in the growth and value creation path in front of Coty.\"<\/p>\n","protected":false},"excerpt":{"rendered":" Mass market beauty brands Rimmel and Maxfactor look set to play a key role in boosting Coty\u2019s financial performance in 2022 \u2013 building on the 37.9% rise in like for like mass channel revenues reported in the fourth quarter of 2021.<\/p>\n","protected":false},"author":82,"featured_media":141772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[11765,18391,18724,16884],"acf":[],"yoast_head":"\n