Coty names new CFO
NEW YORK — Global beauty company Coty has appointed Patrice de Talhouet as CFO, effective early 2014.
He succeeds Sergio Pedreiro, who will stay on at Coty through March 2014 to provide a seamless transition, as well as to complete Coty’s fiscal 2014 second quarter earnings release.
As CFO Americas and a member of the finance executive committee for Mars Inc., De Talhouet, among other things, led a multiple-year program to transform the global finance function for the company, oversaw governance and compliance in the region and was dean of Mars University for finance. For the five years prior, he served as CFO Europe for Mars Global Chocolate. Before joining Mars, he spent more than a decade in senior finance positions for Alcatel-Lucent. He started his career at Societe Generale bank, where he spent four years.
"I am very excited to welcome Patrice as Coty’s new CFO. Patrice has a deep, well-rounded profile and a proven, successful track record in leading large financial operations with premier multinational corporations," said Michele Scannavini, CEO of Coty. "He will be a strong addition to our executive team."
Pedreiro joined Coty during the 2009 global financial crisis and implemented a strategy that brought solid contributions to Coty’s earnings improvement and margin expansion. Pedreiro also strengthened governance and compliance, including the implementation of SOX, all of which was instrumental in guiding Coty to the public markets in June 2013.
"Along with Coty’s executive team, I would like to acknowledge Sergio’s many talents and thank him for his contributions to our profitable growth achieved over the past five years. We very much appreciated his business acumen, along with his unique interpersonal skills. He will be missed, and we wish him all the best for the future," Scannavini said.
Dr. Miracle’s reveals new branding campaign through revamped site
NEW YORK — Ethnic hair care brand Dr. Miracle’s unveiled this week a new branding campaign through the relaunch of the DrMiracles.com site.
“Dr. Miracle’s is a brand that serves a population of women who define their own beauty, especially where their hair is concerned, and empower themselves by understanding the products that they consume. They also share tips and thoughts on beauty with their peers through social media channels frequently. Our new campaign focuses on the creation of her very own treatment plan, allowing her to be a contributing partner in her own prescription for hair health,” said DRM-JPC brands CMO Kimberly Hairston.
Consumers who visit the newly developed website will have access to an interactive diagnostic tool designed to provide them with customized solutions for their hair health challenges. In addition, consumers have the opportunity to upload a “selfie” for a chance to serve as our website model of the month, participate in the “Ask the Doctor” feature and access all of the Dr. Miracle’s social media platforms.
Study: Many younger men use facial moisturizers
CHICAGO — Some men may not like to admit that they have a skin care regime, but according to new research from Mintel, many younger men report using a facial moisturizing product.
According to Mintel, 58% of men ages 18 years to 24 years and 63% of men ages 25 years to 34 years report that they use a facial moisturizing product.
This is in stark contrast to the 32% of those ages 55 years to 64 years and 29% of men older than 65 years from other age demographics claiming to do the same thing.
“That younger men are more participative in the facial skin care category bodes well for the future growth of the men’s skin care segment as younger men will likely continue using products as they age,” said Gabriela Elani, home and personal care analyst at Mintel. “The fact that sales of men’s personal care products have risen so sharply over the past five years highlights the growth in product categories that have traditionally been segmented by gender, such as antiperspirant/deodorant, shaving and shower products.”
The men’s personal care market will reach $3.9 billion this year, enjoying growth of 15% since 2008. Despite the increased use of facial skin care among young men, such toiletry products as antiperspirant/deodorant, shower gel and hair care products enjoy the highest market penetration, as male consumers use these products on a daily basis to maintain their personal hygiene.
The men’s antiperspirant/deodorant segment has increased by 13% from 2008 to 2013 and is now worth $1.4 billion. Mintel projects that this segment will continue to grow steadily year-to-year into 2018. The continued growth is not surprising as some 95% of men report that they use an antiperspirant/deodorant product, making it the most commonly used product among all male respondents, Mintel stated.
When it comes to personal care products, men are loyal. More than half of all men (52%) say they tend to stick to the same brands of toiletries and grooming products. In addition, 34% of men like to smell their personal care products before buying them and 20% favor two-in-one products to save time.
“It will be a challenge for companies and brands to expand the current market, as men don’t have a strong interest in trying out new product forms. In order to accelerate category growth, companies should focus on improving the functionality of male-specific hair care and facial skin care products in order to persuade men to switch over from general market products. Improved functionality could also influence nonusers to try out products in these categories,” Elani said.