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.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)