Coty Inc on Thursday forecast revenue growth for the next several years, after a long streak of declines, as it benefits from improving U.S. and China beauty markets and a sales rebound in airport duty-free stores.
Coty forecast annual earnings largely above estimates on Monday, as the cosmetics maker benefits from cost cuts to ward off inflation impacts and a revival in demand for its products at airport duty-free stores.
The Italian fashion’s group CEO, Umberto Macchi di Cellere, has left. He has been replaced by president and vice-president Diego and Andrea Della Valle, who have hired Simona Cattaneo as Tod's new general manager.
Coty Inc announced on Friday a definitive agreement to sell an approximate 9 percent stake in its hair care brand Wella to KKR in exchange for some of the cosmetic maker's shares the U.S. buyout firm owns.