Coty’s new interim executive chairman and CEO, Markus Strobel, presented the company’s latest earnings, emphasizing the need for a turnaround. Strobel highlighted Coty’s strong assets but acknowledged disappointing financial performance.

Strobel unveiled “Coty Curated,” a turnaround strategy similar to Estée Lauder Cos.’ “Beauty Reimagined,” focusing on priorities, investments, execution, and core businesses. The company is also reviewing its consumer brands division, including its mass color cosmetics business and operations in Brazil.

In December, Coty sold its stake in Wella to KKR, which plans to take the maker of Clairol public in the U.S. This move follows Coty’s second-quarter fiscal 2026 results, with net revenue of $1.7 billion, a 1% increase from the previous year.

Prestige net revenue was $1.13 billion, up 2%, while consumer beauty net revenue was $545 million, down 2%. Coty reported a net loss of $126.9 million, compared to net income of $20.4 million the prior year, with adjusted earnings per share of 14 cents.

Due to market complexity and leadership changes, Coty withdrew its fiscal year ’26 guidance for earnings before interest, taxes, depreciation, and amortization, providing guidance only for the third quarter.

Read more at Yahoo Finance: Coty Unveils ‘Coty Curated’ Turnaround Strategy Under Interim CEO Markus Strobel Amid Mixed Q2 Results