Coty Inc.'s recent acquisition spree is boosting its sales and profits.The beauty business posted $109.2 million in net income in fiscal second quarter, up more than 100 percent from the prior-year period because of recent acquisitions. Net sales were up 15 percent to $2.6 billion. Even without the acquisitions of Younique, Burberry and Ghd, Coty's organic sales were up 2.8 percent in constant-currency, the company said.Coty's Luxury division posted $951.2 million in sales, a 14 percent year-over-year increase. Consumer Beauty sales were also up 14 percent from the prior-year period, to $1.1 billion, and Professional Beauty segment sales were up 19 percent to $547.8 million.In Luxury, sales were boosted by Gucci Bloom, the debut of a Tiffany & Co. fragrance, growth in Chloe and a 1 percent contribution from Burberry.Growth in the Consumer Beauty segment is mostly attributable to Younique, which drove 11.1 percent of growth. The rest of the business posted a 1.3 percent decline mostly in the U.S., while strong sales from Wella Retail, Max Factor and Monage offset some of those declines.In professional, growth came from an 11.6 percent contribution from Ghd, while OPI — not a newly-acquired brand for Coty — contributed 2 percent."Our recent acquisitions continue to have strong performance," said chief executive officer Camillo Pane. "Across each of our three businesses we continue to see improving results with our strong performance in Q2 directly linked to our growth strategy. Recent innovations are working well, e-commerce is performing ahead of the market and we are working to implement better in-store execution."Pane added Coty is projecting "modest net revenue growth" for the duration of the fiscal year.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
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"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.