Coty’s Consumer Biz Leads Q1 As Supply Issues, China Lockdowns Offset Prestige Beauty Demand

Fragrance component shortages and COVID-19 restrictions in China were among factors that dragged on Coty’s Prestige business growth in the first quarter of fiscal 2023. Nevertheless, the division’s sales rose 7% like-for-like, while Consumer Beauty grew 12% on the strength of restaged brands.