Coty: Drop in cosmetics product demand results in millions lower sales result

Coty Inc is to increase its investments in skin care to offset a pandemic-induced fall in demand for its makeup products that led to disappointing quarterly sales revenue. The company is now busy making skin care products for its Asian customers. Online sales growing by 30 percent in the EMEA region couldn’t offset the 21.9-percent sales drop in European physical stores – many of which had to close – in the second quarter.