Summary "COVID-19 Impact on Coty Inc." reports key findings as of 16th February, 2021 based on market analysis and brand diversification by industry and geography.
Like other cosmetics and toiletries companies, Coty also huge declines in FY2020 due to the pandemic.However, company’s improved performance in Q2 results reflects a positive trend owing to the development of e-commerce sales in Americas and Europe.
Also, the divestment of the Wella business in November 2020 helped reduce its net debt at the end of Q2 2021.The further expansion of the company’s prestigious brands Gucci and Burberry in China will boost sales.
Overall, Coty’s digital and e-commerce acceleration, expansion into the Chinese market, and continued focus on its core business of fragrances and cosmetics provide a favorable outlook for the company in the coming quarters.
Scope - Dependence on Western Europe and North America may hurt Coty’s sales growth prospects in the coming years
- The cosmetics and toiletries industry is expected to register positive growth in all regions over the forecast period (2020-2025)
- Coty’s expansion in Asia, the Middle East, and Africa may help boost sales due to their high CAGR forecasts
- Coty is placed 17th on the sentiment scorecard and need to ramp up its efforts in cybersecurity, social media, and health and wellness
- Coty recorded a rise in sentiment score in two consecutive quarters: Q1 and Q2, 2021
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