Coty Inc’s biggest business that includes brands such as Burberry perfumes and Gucci foundations returned to growth in the third quarter after a tumultuous 2020, while the cosmetics maker’s net loss narrowed sharply.
The beauty giant unveiled its new growth strategy at an investor event on Friday, revealing plans to reposition brands in its consumer beauty and skincare portfolios, and accelerate growth in prestige, China and digital.
The Gucci Beauty flagship store has just opened on the Tmall Luxury Pavilion, its beauty licensee Coty has announced. The move follows Gucci’s opening of its first fashion flagship on the platform in December.
The beauty conglomerate has announced the promotion of Stéphane Delbos, senior vice president for transformation, indirect and procurement operations, to the role of chief procurement officer, effective February 1, 2021.