The beauty company is hoping Kim Kardashian and Kylie Jenner will help them in its mission.
, already anchored in North America, into EMEA in the coming years. Kylie Skin will also be heading to Australia as part of the plan, but when an investor asked about Asia, Nabi’s response what that region was not a priority for that particular brand.
Instead, the plan is to focus on Asia skin care pure players and also Lancaster, which is already in Asia and performing well, according to Nabi. “We have so much to do with Kylie in the rest of the world. Kylie is clearly a brand that’s doing great in Anglo-Saxon countries. We recently launched it in Latin America, in Mexico, in Brazil. It’s become one of the key makeup sellers in travel retail, specifically in Europe, in London or in Paris, to take these two examples,” Nabi added. “So, honestly, we are 100 percent focused on using the brands that are powerful in the regions where they are meaningful.
Coty has spent a combined $800 million for a 20 percent stake in Kardashian’s business and a majority ownership position in KylieCoty also used the opportunity to announce it was raising it expectations for first-quarter like-for-like sales growth to between 8 and 9 percent, compared with the previous 6 to 8 percent target, on the back of stronger demand for beauty in both prestige and consumer and across Europe, the Americas and global travel retail.
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