Coty to ramp up marketing to ‘capitalise on momentum’

Coty to ramp up marketing to ‘capitalise on momentum’

Beauty business Coty has reported that it has started its “strong” financial year, with results “ahead of expectations”, and is now looking to work with this momentum by “doubling” in holiday advertising.

The business, which owns key beauty and fragrance products including Gucci and Burberry, as well as consumer products Rimmel and Max Factor, launched a cost-cutting program with the arrival of CEO Sue Nabi last September.

Coty aims to save up to $ 600m by 2023, with the company earning $ 400 million this quarter.

Coty says its cost-cutting program enables it to “invest more in advertising” as it looks to improve sales over the Christmas season.

Read More: marketingweek