Coty Appoints New CCO with Seasoned Asian Market Career

Chaileedo Press
Mar 31, 2023
2 min read

Caroline Andreotti was previously General Manager of the China Luxury Business Unit of Coty Group.

According to BUSINESS WIRE, Coty announced yesterday (March 30) the appointment of Caroline Andreotti as Chief Commercial Officer (CCO), effective April 1.

Caroline is said to have over 20 years of experience in the beauty industry and has been with Coty for 15 years. She is currently EVP global premium skincare for the Coty Group and was previously General Manager China Luxury at Coty in China.

Having worked in Asia for most of her career, she has deep expertise in the Asian market and has an excellent track record in fragrance, skin and body care and color cosmetics.

Notably, Caroline successfully opened the first ultra-premium fragrances counters, Chloé Atelier des Fleurs counters. At the same time, Chloé Atelier des Fleurs counters became Coty's number-one fragrance brand in travel retail in Asia Pacific and Sephora's number-one artisanal fragrance in China.

Sue Y. Nabi, CEO of Coty, said Caroline has been an important contributor to broadening the brand's channels and advancing its products. She is also an expert in the Asian beauty market, which is perfect for the company's market advancement and strategic placement in China.

In her new role as Chief Commercial Officer, Caroline will continue to strengthen the Group's position in the global premium fragrance market, accelerate innovation in premium color cosmetics and drive growth in its skincare business.

In addition, in the second fiscal quarter that ended December 31 last year, Coty Group sales fell 3% year-on-year to $1.523 billion, while net revenue jumped 24% to $235 million.

Coty said that the first half of the fiscal year results showed strong growth in almost all market needs, particularly in premium fragrance products. Based on current exchange rates, Coty continues to set adjusted EBITDA for FY2023 at $955-$965 million, with revenue growth trending at approximately 6%-8% in the second half of the fiscal year.