COTY Skincare Portfolio and Financial Overview
STRONG IMPROVEMENT IN
FRAGRANCE SERVICE LEVELS
Q3 PRESTIGE SERVICE LEVELS IMPROVED SIGNIFICANTLY, UP OVER 10
POINTS Q/Q, NOW IN THE HIGH 80S
➤ IMPROVEMENT DRIVEN BY STRONG EFFORTS AROUND
QUALIFYING ADDITIONAL SUPPLIERS AND ADDITIONAL INDUSTRY
CAPACITY COMING ONLINE
CONTINUE TO ESTIMATE COGS INFLATION OF ~2% OF REVENUES IN
FY23, TO BE OFFSET BY PRICING, COGS SAVINGS AND TRADE
INVESTMENT OPTIMIZATION
➤ COGS INFLATION INCREASED TO ~2.1% IN Q3, EXPECT ~2.5% IN Q4
1HFY24 COGS INFLATION CONSISTENT WITH 2HFY23 LEVELS,
WITH MODERATION IN COGS INFLATION TOWARDS 1% IN 2HFY24,
COUPLED WITH AN INCREASE IN SG&A INFLATION
➤ EXECUTED MID SINGLE DIGIT PRICING IN Q3, WITH PLANS FOR
FURTHER PRICING IN 1Q24 AS COTY CONTINUES ITS PORTFOLIO
TRANSITION TO CLEANER AND MORE SUSTAINABLE PRODUCTS,
WHILE SIMULTANEOUSLY DRIVING CATEGORY VALUE EXPANSION
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