Coty Tops List of 100 Fastest-Growing Retailers
In Total Retail's recently released rankings of the top 100 fastest-growing publicly traded retailers based on year-over-year net sales, a beauty brand found itself at the top of the rankings for the first time. This is the eighth year that Total Retail has produced the list and subsequent report.
Coty generated a 75.9 percent year-over-year sales increase, growing from $4.4 billion in FY 2016 to $7.7 billion in FY 2017. That was good for first place in this year's rankings.
Coty attributes its FY 2017 sales growth to its purchase of 41 Procter & Gamble beauty brands, including Gucci fragrances, CoverGirl cosmetics and Max Factor makeup. The acquisition made Coty the world’s third-biggest cosmetics company and the largest in fragrance.
“We’ve completed the incredibly complex acquisition of the P&G beauty business, fully reorganized into a product- and customer-focused organizational structure, [and] successfully reached significant milestones in our integration efforts,” said Camillo Pane, CEO, Coty, in a company press release.
Pane also cited Coty’s decision to boost its brand portfolio as a key factor in the company’s growth.
In January 2017, Coty acquired a 60 percent stake in Younique, an online peer-to-peer social selling platform for beauty products. Coty now sells its merchandise via Younique Presenters, who operate personal e-commerce stores on the platform.
When Coty purchased a majority stake in Younique, the online marketplace reported more than 80,000 sellers. As of December 2017, that number had grown to more than 230,000.
Coty also purchased hairstyling appliances company GHD in 2017, as well as completed the acquisition of the exclusive long-term global license rights for Burberry Beauty luxury fragrances, cosmetics and skincare.
To see the full rankings, as well as profiles of some of the companies featured on this year's list, download Total Retail's eighth annual Top 100 Fastest-Growing Retailers list today!
Related story: Total Retail's Top 100 Fastest-Growing Retailers