Coty’s new ceo Sue Nabi said the group will focus on areas that are resilient in the current environment, such as health-oriented beauty, skincare, direct-to-consumer (DTC) business and Asia.
” I am convinced that our new world of DTC personality-led beauty has a bright future. With brands led by global influencers, we are reaching a large and data rich audience around the world. This is relevant for all our brands and extends beyond icons like Kylie and Kim Kardashian West. We will use the DTC environment to test, learn and leverage insights for other teams. I do not see any other company that combines these three powerful engines,” Nabi told employees during a Global Townhall.
She added that Coty will become a product-centric organization.
As reported, Nabi was named Coty ceo in July and began her new role on September 1.
In fiscal year 2020, Coty’s revenues fell 25% year-on-year to $4.72bn, while fourth quarter revenue dropped 62.8% year-on-year to $560.4m.