Mumbai, December 14, 2023: Coty Inc. (NYSE: COTY) (“Coty” or the “Company”), one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, colour cosmetics, and skin and body care, has unveiled ambitious plans to accelerate the footprint of its Prestige and Consumer Beauty business segmentsin India. This ambition is supported by significant investment inIndia, including the appointment of industry leader Rizwan Mulla as Business Development Director, India, the introduction of newteam and office premises, as well as the signing of a strategic agreement with leading distribution and marketing company, House of Beauty.
As the number one fragrance company[1] in India, Coty has already positioned itself as a key player in the Indian beauty market which is valued at US$16.5 billion[2].Leading the new Coty India team, Rizwan Mullabrings more than 25 years’ experience in operational management, business development and marketing to Coty’s Southeast Asia leadership team. Based in Mumbai, Mulla will put his track record of nurturing business potential to work in maximising revenue streams and business value. Underscoring Coty’s long-term commitment to India, Mulla will be tasked with identifying growth opportunities, refining operations, and fostering valuable partnerships for Coty across India. Mulla and his team of Brand, Business Development and e-commerceManagers will be focused on nurturing key customer relationships while driving brand and omni-retail excellence with the local distributors across Prestige and Consumer Beauty divisions.
Kristina Strunz, Managing Director, Coty Southeast Asia and India commented: “Over the past fiveyears, we have witnessed the meteoric rise of Prestige Beauty in India and today it represents one of the key long-term growth opportunities in Asia for Coty. The strategic investment in Coty’s operations in India underlinesthe company’s ambition to solidify our already strong presence in the sizeable Indian beauty market.We are excited to welcome Rizwan and the team as we gear upto accelerate growth across the luxury and everyday beauty segments in this dynamic and
exciting market.”
India’s beauty sector has witnessed incredible growth in the past five years, fueled by more widespread internet access, rising income levels, and a growing population of young consumers who are increasingly conscious of skincare and bodycare. The early adoption of makeup among teens and those entering the job market have also been key drivers in the acceleration of the beauty and personal care market in India. Growing from US$12.3 billion in 2018 to US$15.6 billion in 2022, India’s beauty market is expected to reach US$17.4 billion by 2025[3].
A key distribution market in Asia, India has embraced key Coty prestige brands including Gucci Beauty, Burberry Beauty, Hugo Boss, Calvin Klein and Davidoff fragrances, and consumer brands such asRimmel, MaxFactor and Adidas. In the financial year 2023, Coty India grew +65%and this growth trajectory is set to continue in the year ahead, supported by a series of new fragrance releases launches, blockbuster campaigns and upcoming brand launches. Coty’s Prestige brands will make an impact with key launch campaigns featuring the unveiling of Burberry Beauty’s new niche fragrance, Burberry Goddess and Her Elixir; the new release of Gucci Flora Magnolia; and an exclusive lifestyle partnership for Davidoff. In the Consumer Beauty arena, Coty is set to indulge local consumers with the latest MaxFactor campaign and a new range from Adidas.
In another key milestone for Coty Inc., the company has announced the appointment of a new strategic distribution partnership with House of Beauty. A signing ceremony between Kristina Strunz, Managing Director, Coty Southeast Asia and India and Shriti Malhotra, Group CEO Quest
Shriti Malhotra, Group CEO, Quest Retail – House of Beautyadded: “We are delighted to complete this partnership between Coty and our Group company, House of Beauty, to add Kylie Cosmetics to our exciting beauty portfolio. Led by Sanjali Giri (VP – International Brand Distribution), House of Beauty has proven successful in building and scaling premium global beauty brands through strong brand storytelling, superior distribution, robust partnerships and extensive omnichannel expertise. There is growing demand across India for quality make-up, best-in-class innovation and immersive marketing activations from international beauty lifestyle brands. Together with Coty, we look forward to strengthening our national portfolio and footprint, and hope to accelerate the rise of premium beauty in South Asia by making Kylie Cosmetics shine in India.”
Corporate Comm India (CCI Newswire)
