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The move frees up cash to invest in higher growth areas such as clean beauty.
April 24, 2021
By: TOM BRANNA
Editor
In a move intended to revitalize Covergirl, parent company Coty is reducing the cosmetics brand's SKUs. At the same time, Coty is rolling out SKKN, Kim Kardashian's skin care line. The move will enable Coty to invest in higher growth areas such as clean beauty. As part of the latest shift, Coty will narrow its Covergirl focus on eight sub-brands that account for about 70% of the brand’s sales. By moving away from lower-performing lines, brands that “no one remembers,” as CEO Sue Nab...
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