Global beauty company Coty Inc. has provided updated perspectives on its financial progress and future growth opportunities.
 
Coty’s fiscal Q3 core LFL sales growth is tracking at +10%, reflecting an acceleration from the +7% core LFL sales growth in Q2. As a result, Coty now expects its FY23 core LFL sales growth to be at the upper end of its prior guidance of 6-8% core LFL sales growth. The company intends to reinvest incremental profit into its critical skincare initiatives and recent launches like Lancaster Ligne Princiere and the new Burberry and Gucci foundations.
 
This ties into the company’s plan to double skincare sales by FY25.