Global beauty company Coty has picked Zenith Singapore to manage media duties for Southeast Asia, Hong Kong, Taiwan and India, Marketing understands. Among the list of brands under Coty include Burberry, Cover Girl, Hugo Boss, Wella, Lacoste and Max Factor.
Marketing has reached out to Zenith Singapore for comment, while Coty has declined to comment on Marketing‘s queries.
Globally, Coty appointed Pierre Laubies as CEO in November, after Camillo Pane resigned for personal reasons. Laubies will also become the director of Coty. He has a wealth of operational and financial experience in the consumer packaged goods industry gained from his time at both Mars and Jacobs Douwe Egberts. Bart Becht, chairman of Coty, said, “We are very grateful for Pane’s many contributions to Coty during his time as CEO. His leadership was critically important during Coty’s integration of the P&G Specialty Beauty Business.”
Becht added that following the transaction, Pane “greatly accelerated” the growth of the luxury and professional businesses, built a much stronger management team and delivered on the synergy commitments associated with the transaction.
For the first quarter of its 2019 financial year, Coty reported a net revenue of US$2,031.3 million, a 9.2% year-on-year (yoy) drop. While Coty’s management is disappointed with the supply chain disruptions experienced over the last quarter, which led to the poor financial performance in the first quarter, Coty said it expects underlying yoy net revenue trends in the second quarter to improve across the luxury, professional beauty and consumer beauty divisions.
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