Coty’s Luxury Segment Boosts Top Line in 3Q, Reflecting Industrywide Premiumization Trends
We plan to maintain our long-term outlook for no-moat Coty, which calls for 6% compound sales growth and low-double-digit average operating margin over the next five years (versus a five-year historical average of 9%), after evaluating its third-quarter results. Constant-currency sales grew 3.4%, as solid results in the luxury segment (up 12%) were offset by a 1% decline in consumer beauty. While our revenue outlook for Coty remains muted relative to its peers (with around 3% growth in the out-y...Coty and its subsidiaries are a beauty company. The company manufactures, markets, sells and distributes beauty products, including fragrances, color cosmetics, hair care products and skin and body related products. The company is organized into three divisions, which is also its operating and reportable segments: Consumer Beauty, Luxury and Professional Beauty. Consumer Beauty is primarily focused on color cosmetics, retail hair coloring and styling products, body care and mass fragrances. Luxury is primarily focused on fragrances, skincare and cosmetics. Professional Beauty is primarily focused on hair and nail care products for salon personnel.
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