Coty eyes dual listing on Paris Stock Exchange
Reuters
Published May 05, 2023 11:54
(Reuters) - Coty Inc said on Friday it would explore a listing on the Paris Stock Exchange as the CoverGirl cosmetics maker looks to strengthen its presence in Europe and tap into new investors in the market.
Founded in Paris in 1904, Coty counts Europe as a substantial market, with net revenues from the EMEA region making up about 47% of the company's total sales in its most recent quarter.
Coty, also known for fragrances from the Hugo Boss, Gucci and Burberry brands, had in March maintained its annual profit forecast and projected core like-for-like (LFL) sales growth for the full year at the higher end of its prior guidance of 6-8%.
The company is set to report its fiscal third quarter earnings next week, following a dismal fiscal 2023 forecast from rival Estee Lauder (NYSE:EL) Cos Inc earlier this week on slow recovery at duty-free and travel destinations, especially in Asia.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.