Coty forecasts sales growth years. This comes after streaks of decline and the beauty market's rebound in the US and China. Furthermore, the company has been focusing more on high-end fragrances, skincare products, and other categories. Demand for makeup products waned due to COVID-19 pandemic restrictions.
Also, the Hugo Boss fragrance maker has been trying to revive its CoverGirl, Rimmel, and Max Factor brands through new launches, collaborations with celebrities, and spending more on advertising. Coty CEO Sue Nabi is betting that the company can top the beauty market's growth at a 3% to 5% rate. Thus, the company is forecasting revenue growth of 6% to 8% through 2025. And they plan to grow it even more in the years to come.
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