Source: Global Cosmetics News
Coty Inc. was established in 1904 by François Coty and has grown into a multinational company that creates, manufactures, and sells a wide range of branded beauty products. Coty Inc. has multiple subsidiaries, which include luxury, consumer beauty, and professional beauty. It is one of the biggest beauty companies globally and the biggest fragrance company, recording revenues totaling more than $9 billion for the fiscal year that ended in June 2018.
Coty Inc.’s luxury segment features premium skincare, fragrances, and cosmetic products, while the consumer beauty segment offers body care, mass fragrances, hair styling and coloring products, and color cosmetics. The professional beauty segment is made up of nail care products and hair care products for salon professionals. Coty Inc. is headquartered in New York City, where it controls all the steps toward achieving its mission of “celebrating and liberating the diversity of beauty.”
Coty Inc. has more than 19,000 employees in 46 countries working in different capacities and playing significant roles in the beauty industry. The company has its executive offices located in London, United Kingdom, while the consumer beauty division is located in New York City. The luxury division is located in Paris, and the professional beauty division operates from Geneva. In September 2020, former L’Oréal executive Sue Youcef Nabi took over as Coty Inc.’s chief executive officer and has run the company till date. The largest shareholder at Coty Inc. is JAB Holding Company, with a 60% stake in the company.
Some of the brands under Coty Inc.’s umbrella include Alexander McQueen, Calvin Klein, Davidoff, Tiffany & Co., Kylie Jenner, KKW, Lacoste, Burberry, Bottega Veneta, and a host of other brands. Products from Coty Inc. are mostly sold through third-party distributors, supermarkets, hypermarkets, mid-tier department stores, pharmacies, drug stores, and e-commerce retailers. Coty’s products are sold to about 150 countries and territories worldwide and have won the hearts of many people with its wide range of products. In November 2019, the company announced that it would be buying a stake in Kylie Cosmetics, a company owned by popular reality TV star Kylie Jenner. The deal cost about $600 million, and it got Kylie listed as the world’s youngest billionaire at the time.
Beyond carrying out its primary business, Coty and all its affiliate brands have stated their commitment to a wide range of social causes, top of which is its minimization of environmental impact. Coty Inc. has partnered with international advocacy group Global Citizen to support causes fighting discrimination and prejudice based on gender, disability, ethnicity, race, and sexual orientation. The company has also collaborated with other beauty companies to champion the Responsible Beauty Initiative, which encourages sustainability in the beauty industry.
By its strategic collaborations with some of the world’s most popular brands, Coty Inc. has taken a huge chunk of the market shares in the beauty industry and continues to do so by making giant strides to change the game for beauty product consumers. Its commitment to contributing to a safer and cleaner world has also placed the company in many people’s good books.