Ricardo Travassos
Director General
Coty México
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View from the Top

Success Lies in Celebrating Diversity

Wed, 05/08/2019 - 10:34

 Q: What role does Coty play in the beauty industry?

A: Coty is a world-leading beauty manufacturer of cosmetics, skincare, fragrances and hair coloring and styling brands. Two years ago, we completed a transformational merger with Procter & Gamble (P&G) Beauty, making Coty the third-largest beauty company in the world with approximately US$9 billion in revenue. The company now holds the No. 1 position globally in fragrances, the No. 2 position in professional hair products and is No. 3 in color cosmetics. The company has over 20,000 colleagues around the world and more than 77 brands sold in over 150 countries organized under three divisions: consumer beauty, professional beauty and luxury. 
Q: What makes Coty a leading player in the segments where it participates?

A: In creating the new Coty, we had an amazing opportunity to redefine what beauty means to us and the impact we can have on society. We have chosen a bold and inspiring purpose to celebrate and liberate beauty diversity. We believe that the beauty of humanity lies in the individuality of people and that beauty is at its best when authentic. 
The new Coty culture is based on five values: Own it and Drive It, Win for the Team, Live Beauty and Breath Beauty, Be Brave and Go Beyond and Think Like a Startup. Despite our size, we maintain the mentality of a startup. We have also developed a responsible growth strategy. We have partnered with Global Citizen, a disruptive NGO, to tackle the prejudice and discrimination that prevents people from being able to express their true selves. This program is called “We Stand for You” and focuses on those who face discrimination based on their gender, sexual orientation, disability or ethnicity. 
Q: What is Mexico’s role in Coty’s consumer beauty business?
A: Mexico is a key market for Coty given the size of its population, its growing economy, the strong consumption of beauty products and the country’s inherent growth potential. Our consumer beauty business has been growing at a fast pace quarter after quarter and gaining a bigger share in the most strategic segments. Thanks to the hair color, color cosmetics and body care divisions, we have secured our place as the third-largest beauty player globally and are well-positioned to continue our growth journey. In Mexico, we have a team of more than 700 colleagues and a strong and agile industrial footprint that helps us to adapt to local needs.
Q: How does Coty México add value to its partners across the value chain?

A: After the merger with P&G Beauty, we engaged in an incredibly complex transition, fully restructuring our strategic choices and plans, as well as our organization, supply, warehousing, logistics and IT to drive value and superior service to our customers. Our beauty portfolio includes leading brands such as Wella–Koleston, Covergirl, Adidas and Sally Hansen. Our added value goes from collecting consumer insights to developing disruptive innovation, from wide distribution to perfect in-store execution, from category vision and captaincies to tailormade category growth plans. We work hard to combine global expertise with local insights and demand to create strong business plans oriented to our final users. We are also investing heavily in consumer education both offline and online to foster the sustainable growth of our business units. 
Q: What are the emerging beauty trends in Mexico?

A: Beauty industry consumers are no longer embracing an either-or approach. Users now seek convenience of purchase, repurchase and use, as well as personalized communication, products and services. They want variety of choice, playful experiences and purposeful brands that reflect social causes and they trust influencers and brands that are inspirational and authentic. Beauty routines have also changed to combine premium products with affordable options.