All-In to Win Transformation Program
ON TRACK FOR ~$600M SAVINGS THROUGH FY23, ~$675M BY FY24
SAVINGS DELIVERY TIMELINE ($M)
>$330M
>$90M
~$170M
$600M
~$75M
~$100
Structural
A&CP+Other
FY21A
FY22E
FY23E
Original Phasing:
$200M
$200M
$200M
~$230
Trade Invest &
COGS
~$270
SG&A
$600M
FY24E
Accelerated savings delivery in FY21 by
pulling savings forward from FY22
FY22 savings are net savings and
incorporate headwinds from:
Investment in strategic pillars, including
China, digital, and skincare
Material cost inflation*
-
Reinstating bonuses
Already identifying potential projects for
FY24 and beyond, including:
Manufacturing footprint
Distribution efficiency
Platforming and material value analysis
COTY
* In FY22, AITW cost reductions are expected to fully offset the impact of our originally budgeted material inflation. Due to unprecedented developing market conditions,
we are now anticipating increased incremental material cost headwinds in FY22, which we expect to be able to fully offset through additional pricing actions
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