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Coty Touts ‘Huge Potential’ In China With Lancaster Skin Care, Rising Fragrance Opportunity

 
• By Eileen Francis

New York-based beauty giant says its strategic bet on skin care in China is starting to pay off with strong consumer response to the recent launch of Lancaster Ligne Princiere. Meanwhile, the firm is ready to deploy its prestige fragrance brands strategically in the country as consumers gravitate increasingly to high-end perfumes.

Asian skin care

Driven by luxury fragrances, Coty, Inc.’s Prestige business recorded 16% like-for-like growth to $799.7m in the fiscal 2023 third quarter ended 31 March, according to the company’s 9 May announcement.

“During the quarter, consumer demand for prestige fragrances accelerated to mid-teens growth, from the already strong high-single-digit growth of the previous quarter, highlighting the structural changes in consumer behavior which are fueling growth in category penetration,

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