Coty Bets On Cosmetics Rebound

Benzinga 2021-09-01

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Cosmetics manufacturer Coty Inc ($COTY@US) announced Thursday that it should see annual sales growth for the first time in 3 years. The company expects buyers to spend more on cosmetic and fragrance products as COVID-19 restrictions loosen. The company’s shares rose over 4% in premarket trading as revenue increased 160%. With a catalog that includes Gucci, Burberry, Marc Jacobs, and Calvin Klein fragrances, the company hopes to enjoy ever-increasing sales in both China and the U.S.

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