Q4 2024 Coty Inc Earnings Call Transcript
Key Points
- Coty Inc (COTY) reported strong growth in its Brazilian market, with a 20% increase in fiscal 2024.
- The company is seeing significant success with its prestige fragrances, particularly in China and the US.
- Coty Inc (COTY) has successfully reduced the time to market for new products to as little as six months.
- The company is experiencing strong e-commerce growth, which is outpacing overall company growth.
- Coty Inc (COTY) has implemented significant price increases in Brazil, contributing to improved gross margins.
- Retailers in the US are managing their inventory with caution, particularly in the color cosmetics segment.
- The skincare market in China is experiencing negative growth trends, which may continue in the coming quarters.
- There is a high level of inflation impacting the company's cost structure, particularly in Argentina.
- Coty Inc (COTY) is facing competitive pressures in the US mass beauty market.
- The company has noted that some US retailers are managing their inventory and payment terms more tightly, impacting cash flow.
Good morning and good afternoon, everyone. My name is Ashley, and I'll be your conference operator today. At this time, I would like to welcome everyone to Coty's Fourth Quarter Fiscal 2024 Question-and-Answer Conference Call.
As a reminder, this conference call is being recorded today, August 21, 2024, at 8:15 a.m. Eastern Time or 2:15 p.m. Central European Time. Please note that on August 20, at approximately 4:30 p.m. Eastern Time or 10:30 p.m. Central European Time, Coty issued a press release and prepared remark webcast, which can be found on our Investor Relations website. On today's call are Sue Nabi, Chief Executive Officer; and Laurent Mercier, Chief Financial Officer.
I would like to remind you that many of the comments today may contain forward-looking statements. Please refer to Coty's earnings release and the reports filed with the SEC, where the company lists facts that could cause actual results to differ materially from the forward-looking statements. In addition, except where noted, the discussion of Coty financial results and Coty expectations reflect certain
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