Coty Aims To Double Skincare Sales By FY25

Coty Inc COTY expects to double its skincare revenues from FY22 to FY25, with further acceleration in FY26 and beyond.
The outlook includes 6% - 8% LFL sales growth, adjusted EBITDA growth of 9% - 11% and a low 20s EPS CAGR through FY25.
Sue Y. Nabi, CEO of Coty, said, "Coty's skincare portfolio is one of the most exciting growth areas in our business, with revenues on track to double to $500M-600M by FY25."
The company has raised its first-quarter FY23 LFL sales growth outlook to 8% - 9%, from the previous 6% - 8%, reflecting stronger beauty demand.
The improved outlook is being fueled by both Prestige and Consumer Beauty, and across Europe, the Americas, and Global Travel Retail.
COTY also reinforced its confidence in its previously issued FY23 guidance.
Price Action: COTY shares are trading higher by 7.06% at $8.34 on the last check Wednesday.
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