Coty wipes out its cosmetics

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Coty USA, New York, will exit the color cosmetics category to concentrate on its core fragrance business, company executives said. A Coty spokeswoman confirmed lip and facial makeup lines will be phased out by December, but Coty will retain its Air Spun powder line. Coty had only a 1.5% share of the $927 million U.S. makeup market, with sales of $14 million in 1998, according to Information Resources Inc. The makeup lines received no ad support and were elbowed out of many store shelves this year by the introductions of Neutrogena and Procter & Gamble Co.'s Oil of Olay makeup lines.

Copyright March 1999, Crain Communications Inc.

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