Burberry Goddess continues to set new records for Coty, becoming the top fragrance launch in multiple markets, and together with Burberry’s Hero and Her, propelled strong market share gains.
The beauty company, which holds licenses for the likes of Burberry, Gucci, Marc Jacobs and Davidoff, enjoyed net revenues of $1.73 billion in the second quarter of fiscal year 2024, ended Dec. 31, up 13 percent year-over-year. Wall Street had forecast $1.68 billion.
Burberry Goddess is the biggest launch in Coty’s history, becoming the number-one fragrance launch in many markets and resonating with consumers across all regions.
Recently, Coty has made some licensing announcements in both divisions. It just inked a licensing deal with Italian fashion house Marni, and extended agreements with Mexx and Bruno Banani. At the same time, WWD understands that the Miu Miu license won’t be renewed.
Last August, Coty revealed that it had begun work on a Marc Jacobs prestige beauty line, which will be ready in around roughly two to three years.
