[Infiniment Coty Paris] was launched to celebrate Coty’s 120th anniversary in 2024 and marked the rebirth of the Coty Paris brand. It was an integral part of Nabi’s overriding strategy for Coty — to “undefine” the notion of beauty.

Despite the growth of the niche fragrance market, Infiniment was not a commercial success.

Most damaging, though, both from a perception point of view in the short term and a revenue perspective in the longer run, was the news that L’Oréal will be taking over Coty’s crown jewel license of Gucci when its license ends in 2028.

— Read more in What Went Wrong at Coty? at Women's Wear Daily.

Coty's quarterly loss stands out within the global beauty and personal care sector, an industry that has generally posted resilient consumer demand over the past two years. Peers such as Estée Lauder, L'Oréal, and Shiseido reported stable or improving margins in their most recent quarters, making Coty's $126.9 million deficit a notable outlier. The company's like-for-like revenue declined approximately 3% in the quarter, a reversal from the low-single-digit growth the company had guided investors to expect.

— Read more in Investigation Into Coty's $126.9 Million Quarterly Loss and Collapse of Earnings Expectations at Morningstar.