The French-American beauty company, Coty, has revealed that they plan to achieve skincare sales of 500-600 million USD in a period of the next three years. The brand plans to do so by shifting focus on prestige brands like Lancaster, Orveda, philosophy, Kylie Skin, and SKKN by Kim.Â
“Coty’s skincare portfolio is one of the most exciting growth areas in our business, with revenues on track to double to $500 million to $600 million by FY25. Our strategy is underpinned by world-recognized brands serving key white-space opportunities and consumer needs, 75 years of scientific innovation and leadership, superior patents and distinct intellectual property, and a large and growing team of skincare experts across the organization,” ​Sue Nabi, chief executive officer of Coty commented on the subject.Â
Coty also plans to achieve significant upgrades in its skincare technologies. The focus of which would be the below-mentioned five areas:
- Full-light protection
- Oxygen delivery
- Retinol vectorization
- DNA repair
- Bio-fermented blends
Coty Feels Confident About its Strategies
The brand feels confident that it can take full advantage of the opportunities that the USD 150 billion global markets of skincare will give them.Â
They have seen successful results of their efforts in China and have faith that their formulations, communications, and strong research and development work will help them achieve the same results across the globe.Â
Their strategies are focused on customer trends and needs that are growing and evolving at the speed of light.Â
The company also reaffirmed its full-year 2025 forecast, reiterating like-for-like sales growth of 6-8%;Â 9-11% adjusted EBITDA growth, and low 20s EPS CAGR through FY25.
