Coty Cosmetics Romania, one of the largest importers of toiletries and cosmetics on the Romanian market, expects to finish the fiscal year ending June 30 with net sales worth 13 million euros, up 13% on the previous fiscal year, company data reveals.
"If we consider all our markets - perfume, body care products and cosmetics, we will record an average annual increase of around 10%, after we boosted our market share across all the developing market segments," says Viorel Ognean, general manager of Coty Cosmetics Romania.
According to company data, Coty Cosmetics is market leader on the perfume segment, with 35% of the market of women's perfumes, and is one of the top three players on the cosmetics segment.
"The market is still maturing. Every year, more and more consumers are showing an interest in certain brands. Several years ago, there was little brand awareness for subsegments and it was especially difficult to promote small segment products via media campaigns," Ognean explains.
The company allocates 20% of its net sales each year for promotional campaigns.
Last year, 2.3 million euros were spent on promotion, with 2.6 million euros earmarked for this year. "We invest most of the money in international brands such as Adidas, Celine Dion and Rimmel. We also have well-known brands in our portfolio, such as Pr?t-?-Porter, but we will not make any promotional investments, because it is a local brand, and Coty is interested in long-term results," adds Ognean.
Coty's portfolio includes 14 brands, 3 of which are cosmetics. On the perfume segment, the Adidas brand accounts for around 40% of the company's local sales, whilst Celine Dion perfumes register annual sales valued at up to 885,000 euros, which accounts for 10% of the overall women's perfume segment, according to Coty officials.
Coty Cosmetics Romania, one of the largest
