Earlier in his career, Coty Inc. chief executive officer Michele Scannavini worked at Ferrari as the commercial and marketing director, where his duties included zooming around a motor track in the fabled sports car. That early exposure to speed has served him well—in the last year alone, Scannavini was named ceo of Coty, taking the reins from his former boss Bernd Beetz, and oversaw its initial public offering on the New York Stock Exchange, beauty’s biggest IPO of the last decade. Now, Scannavini faces a bigger—and more immediate—challenge, namely, to diversify and globalize the $4.6 billion company, and transform it from a significant player in fragrance into a full-fledged competitor in color cosmetics and skin care as well. In other words, the executive is just getting started, as I learned when I spent time with Scannavini and his senior management team, a tight-knit group who love to play as hard as they work. To discover how they are transforming Coty under their new leader, turn to “Setting the Pace” on page 18.
Coty is not alone in its ambitions to become dominant in the prestige skin care sector. Mass retailers from Amazon to Target have made no secret of their desire to establish themselves as players in that realm. To that end, the pace of activity is unrelenting, from Target acquiring the online player DermStore.com, to Amazon’s much-anticipated unveiling of its Luxury Beauty Store. But as Rachel Brown, WWD’s West Coast beauty editor, reports in “Site Plan,” for many brands, these developments pose as many challenges as they do opportunities. Find out why on page 28.
Forging a bold partnership with Target certainly paid off well for makeup artist Sonia Kashuk, whose namesake line launched in the retailer 15 years ago and has posted gains every year. Her husband, Daniel Kaner, is an equally as successful entrepreneur in the hair-care sector, most recently cofounding Oribe Hair Care. Happily, Kashuk and Kaner agreed to be the first subjects for Double Major, a new WWD Beauty Inc feature which will appear in each issue starting next February, featuring a candid conversation between two like-minded business greats. Who would you like to hear from in the year ahead? E-mail me at email@example.com and let me know.
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