candycrushsagaandroid| Perfume giant Coty: China's global status will not change, business segment continues to grow

"We have great confidence in our business in China, and Hainan's tourism retail business has become another major driver of the group's business growth in China."

During the fourth China International Consumer goods Fair (hereinafter referred to as "Consumer Expo"), Chen Liyi, Asia-Pacific Executive Vice President and acting General Manager of global perfume and makeup giant Koty (Coty), told thepaper.cn: "China'sCandycrushsagaandroidAs far as we are concerned, it is an extremely important market and we will continue to dig deep. "

Koty, founded in Paris in 1904, is one of the largest perfume companies in the world, with a wide range of products and iconic brands, including perfumes, makeup, skin care and body care. Koty's high-end and Volkswagen cosmetics products are sold in about 125 countries and regions around the world.

This is the third time that Koty has attended the Consumer Expo, and Koty has brought its eight iconic brands, including high-end cosmetics brands GUCCI and BURBERRY, high-end perfumes brands Chlo é, Tiffany & Co, Calvin Klein, Marc Jacobs and Hugo Boss, and high-end skincare brands Lancaster. The booth of the exhibition area takes "Future Garden" as the theme, and the Hugo Bosch series is unveiled at the Consumer Expo for the first time. At the same time, an interactive area has been set up for exhibitors to experience and try.

From a global perspective, Chen Liyi said that perfume is Koty's strength, brand matrix is also very well prepared, perfume will continue to be a growing category in the future. And make-up parts, such as Burberry, Gucci makeup, Chinese consumers also like it very much, and will continue to increase the size.

According to the latest results, Koty's performance has exceeded expectations for 14 consecutive quarters. Sales in the second quarter of fiscal year 2024 (as of December 31, 2023) were 17.Candycrushsagaandroid.28 billion U.S. dollars, an increase of 13 percent over the same period last year.CandycrushsagaandroidAfter adjustment, the net profit is 2.Candycrushsagaandroid.29 billion US dollars, an increase of 19 percent over the same period last year. Operating income in the first half of fiscal 2024 was $3.369 billion, up 16 per cent from a year earlier, while adjusted net profit was $303 million, up 7 per cent from a year earlier. As for the department, the sales of the high-end makeup department in the first half of the 2024 fiscal year were 2.187 billion US dollars, up 20 per cent from the same period last year, accounting for 65 per cent of the total sales; Volkswagen cosmetics department sales were 1.182 billion US dollars, up 8 per cent from the same period last year, accounting for 35 per cent of total sales.

"I have great confidence in the business in China. The largest proportion of the business in China is in the perfume category, and the three major business sectors, perfume, makeup and skin care, are all growing." Chen Liyi said that Hainan tourism retail business, in particular, has become another major driver of the group's business growth in China.

On the performance side of the Chinese market, the financial report pointed out that Koty's high-end business income in Chinese mainland grew by double digits in the first half of fiscal year 2024. Koty Hainan tourism retail sales also continued to climb, reaching 70 per cent growth for the whole of fiscal year 2023. Koty's Asia-Pacific travel retail business also achieved double-digit growth in the second quarter of fiscal 2024.

In recent years, tourism retail business has become a key channel for Koty to gain global market share, and Hainan has always been an important market for the group to develop this business. Relying on the substantial construction of Hainan free trade port and the promotion of favorable policies such as tax exemption and customs closure on outlying islands, the retail market of beauty makeup tourism is ushering in a blowout development.

Over the past year, Koty has continued to upgrade the layout of Hainan's tourism retail business, including expanding offline duty-free retail channels and tapping the duty-free market for new products. Chen Liyi said that on the one hand, Coty's high-end cosmetics brands accelerated their entry into the Hainan market last year, opening five brand-new high-end boutiques one after another. On the other hand, the Group also uses Hainan as the launch position of new products in the duty-free market, such as Hugo Boss's high-definition perfume series Boss Collection launched in CDF Sanya International duty-free city, and its perfume counter is the only store in China that can experience Boss high-definition perfumes offline in the duty-free channel.

With regard to the hot trend of domestic products in recent years, Chen Yili said that it is very good to have competition, which can help all brands, whether domestic or foreign, learn from each other, learn from each other, and make common progress. I have also seen that there are many domestic brands that have done very well, and I am proud of them.

"I don't like to set international brands against domestic brands very much. in my opinion, this is a big market full of opportunities. Although there are many challenges, the opportunities are more obvious. I think we can blur home and abroad, and we don't have to think too much about national boundaries. " Chen Yili stressed that competition should be diversified and should not be distinguished by national boundaries, and the long-term effectiveness, longevity and sense of the future of the brand are the most important.

"the Chinese cosmetics market is very important in the global field, and this position will not change." Talking about the strategic layout of the Chinese market in the future, Chen Yili said that the layout of the three major areas of perfume, makeup and skin care products in the Koty matrix is highly compatible with the Chinese market and will continue to cultivate the Chinese market. "it's not because of the number of people in China." what is more important is that Chinese consumers are more forward-looking in the field of beauty makeup, have more demand and views on beauty makeup, and are constantly updating, improving and full of vitality. So it will move forward further. "

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