Beauty company Coty has announced the formation of a new, wholly owned subsidiary in South Africa in order to direct, manage and fully operate all of its South African business as well as its business in 13 other African countries.
Coty posted a decline in net revenues during the first quarter, driven by a slowdown in the mass nail and fragrance markets, and consequently reduced low orders and trade destocking particularly in the U.S. mass channel.
Coty announced on Friday the unveiling of its new corporate website, which modernizes the company's digital presence and is designed to reflect Coty's innovative "Faster. Further. Freer." corporate culture.
Beauty company Coty and DKMS, the world's largest bone marrow donor center, jointly raised $3.2 million to support the fight against blood cancer during the recently held DKMS 6th Annual Gala: Linked Against Blood Cancer.
Coty has named New York-based agency Euro RSCG Worldwide PR (@erwwpr) the public relations agency of record for the company's corporate communications business, and will focus on strategic messaging for Coty — specifically, media outreach and global message development.
It has been a bit of an uphill battle for fragrance within the mass market, but industry sources remain optimistic as “new” continues to drive much of the business and celebrity scents remain in the spotlight.