Coty is considering a second listing on the Paris Stock Exchange

Photo credit © Reuters

(Repeats a dispatch from May 5 to clarify in §1 that the group and not the CoverGirl brand is seeking to strengthen its presence in Europe)

(Reuters) – French-U.S. beauty products company Coty said on Friday it would consider a second listing on the Paris Stock Exchange as the maker of the CoverGirl brand seeks to boost its presence in Europe and… attract new investors to the market.

Founded in Paris in 1904, Coty views Europe as an important market, with the EMEA (Europe, Middle East and Africa) region accounting for approximately 47% of the company’s total revenue in its most recent quarter.

Coty, also known for perfume brands Hugo Boss, Gucci and Burberry, maintained its full-year profit guidance in March and projected full-year like-for-like sales growth at the high end of its range. earlier forecasts of 6 to 8%.

The company is expected to release its fiscal third quarter results next week, following competitor Estée Lauder’s downbeat forecast for fiscal 2023 announced earlier this week due to weak recovery at duty-free shops and restaurants. travel destinations, especially in Asia.

On Wall Street, the Coty title took 1.1% to 11.8 dollars at 2:57 p.m. GMT.

(Written by Deborah Sophia in Bangalore, French version Nathan Vifflin, editing by Kate Entringer)


©2023 Thomson Reuters, all rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. “Reuters” and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.

Source link -87