Coty Inc : advertising & marketing assignments

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Coty is the world's biggest fragrance manufacturer and, following a series of large-scale acquisitions, now among the leaders in both the mass and prestige beauty markets, and also in salon haircare. The portfolio is led by the worldwide Calvin Klein fragrance franchise, acquired from Unilever in 2005. Other key brands include major licenses on behalf of Adidas, Bruno Banani and Davidoff as well as celebrities as diverse as Jennifer Lopez, David Beckham, Lady Gaga and Katy Perry. The group's cosmetics products include Rimmel and Lancaster. These have been joined over the past five years by a large collection of other brands. In 2012, Coty launched an unsuccessful offer to acquire troubled rival Avon for $10.7bn. Three years later, it had more luck with French cosmetics brand Bourjois, acquired from Chanel for $240m. There have been many other such purchases since then (including GHD hair styling products, Brazil's Monange and Risque brands, direct seller Younique and the Tiffany and Burberry cosmetics licenses among others), but the company's biggest deal by far was the - in hindsight, over-ambitious and ill-conceived - acquisition for $12.5bn of a huge chunk of Procter & Gamble's beauty business, including Cover Girl and Max Factor cosmetics, Clairol and Wella haircare and almost the entire P&G Prestige fragrance portfolio including the licenses for Hugo Boss and Gucci, among others. That deal, which more than doubled the size of the company, completed towards the end of 2016. However, Coty has been struggling to manage its vastly expanded portfolio ever since. A crucial factor was the dramatic slump in performance by the P&G brands during the extended delay between agreement of the takeover and its completion a year later. Mass consumer brands CoverGirl and Clairol were especially badly affected. That prompted a massive impairment charge in ye 2019, resulting in a net loss of $3.8bn, the group's third consecutive deficit and its biggest by far. Revenues for the year were $8.6bn, well below the previous year's figure. Pierre Laubies replaced Camillo Pane as CEO in 2018. Coty is controlled by JAB Holdings, the investment vehicle for the Reimann family of Germany. Other interests include coffee roasting and retail.

Capsule checked 24th September 2019

Which agencies handle advertising for Coty? Find out more from the Account Assignments database.

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Advertising expensiture of Coty? See ranking of Declared Advertising Costs

Who are the competitors of Coty? Coty's competitors include L'Oreal, LVMH, Estee Lauder, Chanel and Avon. See Personal Care Index for other companies

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Recent stories from Adbrands Update:

Adbrands Daily Update 31st Aug 2019: Coty attempted to clear the decks for a turnaround of its struggling consumer beauty division with a huge $4bn impairment charge for the year, mainly against the various brands acquired from P&G. That resulted in a final net loss of $3.8bn. Revenues slipped back 3.5% organic to $8.6bn as poor performance by CoverGirl, Clairol and other mass market brands was offset by strength in luxury products, primarily the Burberry, Gucci and Clavin Klein fragrance brands. Organic decline across the consumer beauty division was 10.5%, and almost 2% in professional beauty, compared to almost 5% growth in luxury beauty. The group is also still labouring under massive debts, which grew to $7.4bn

Adbrands Daily Update 1st Jul 2019: Coty announced an overhaul of its operating structure and a change of strategy in an attempt to overcome continuing problems in the brands it acquired from P&G two years ago. The biggest headline-grabber was a proposed $3bn impairment charge in the current year. The group will also spend another $600m over three years to downsize staffing and products, and to reorganise its main consumer business into two regional operating divisions and a separate global brand marketing unit. Professional products will continue to operate as a fourth distinct division. Fiona Hughes and Simona Cattaneo were named as global presidents of consumer beauty and luxury beauty respectively. Edgar Huber becomes regional president for the Americas & Asia Pacific geographical division, while Gianni Pieraccioni is his counterpart overseeing EMEA. All four report to CEO Pierre Laubies.

Adbrands Weekly Update 15th Nov 2018: Coty CEO Camillo Pane has resigned with immediate effect, apparently for family reasons, and is replaced by former Jacobs Douwe Egberts chief Pierre Laubies. Both companies fall under the umbrella for investment group JAB Holdings. At the same time as Pane's departure, Bart Becht is stepping down as chairman of Coty, to be succeeded by his JAB colleague Peter Harf, himself a former CEO of Coty. The company is still struggling to consolidate the large collection of beauty brands acquired two years ago from Procter & Gamble, and reported disappointing results for its latest quarter with declines in both revenues and profits. Harf plans to launch a "renewal process to bring new perspectives to the company."

Adbrands Weekly Update 30th Aug 2018: Beauty group Coty's performance for the year to June 2018, which included the first full-year contribution from P&G Beauty, was lacklustre. Revenues of $9.4bn were up 23% on a reported basis, but the like-for-like organic increase was just 0.4%. Growth in the luxury and professional beauty divisions was offset by a 4% decline in consumer beauty. Negative factors included a truckers' strike in Brazil (which impacted on all packaged goods companies in that country) as well as supply chain disruptions caused by consolidation of distribution centres acquired from P&G. More importantly, though, the group is still wrestling to turn around key North American consumer brands acquired from P&G including Clairol and CoverGirl. Net loss reduced to $169m. The results coincided (or prompted) a shakeup of the management team. Group CFO Patrice de Tallhouet is leaving the company; so is Shannon Curtin, SVP consumer beauty North America. She will be replaced by Andrew Stanleick, who had been leading consumer beauty EMEA.

Adbrands Weekly Update 12th Jul 2018: Coty restructured the marketing department for its consumer beauty division with the appointment of three divisional chief marketing officers. Ukonwa Ojo was named CMO for global Cover Girl and Sally Hansen, and also consumer beauty US. The latter category includes all US colour cosmetics including Rimmel. [Updated: she left the group in early 2019.] Mark Cooper becomes CMO for retail hair, body care and lifestyle scenting; which includes the Clairol and Wella brands and mass fragrance and body care brands such as Adidas, David Beckham, Katy Perry and Nautica. Mike Bryce will be CMO for international colour cosmetics, with global responsibility for Rimmel, Bourjois and non-US makeup brands. All three are supported by Jing Mertoglu, who becomes SVP, consumer marketing & insights for global consumer beauty; and Sean Foster, now SVP, digital and e-commerce for consumer beauty.

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