Coty names Estée Lauder alum Constantin Sklavenitis head of prestige brands
American cosmetics conglomerate Coty has announced the appointment of Constantin Sklavenitis to the role of chief prestige brands officer. Having most recently served as senior vice president and general manager of North America at Estée Lauder-owned M.A.C. Cosmetics, Sklavenitis, whose previous experience also includes a 20-year stint at L'Oréal, will step into his new role on September 6.
The executive will report to Coty CEO Sue Y. Nabi and succeeds Simona Cattaneo, who is leaving the company.
"I am delighted to welcome Constantin to Coty. He is a proven and trusted leader in beauty, luxury and retail with more than 24 years of global general management and marketing experience," said Nabi in a release.
"In his role, Constantin will continue to strengthen Coty’s position as a worldwide leader in Prestige fragrances and accelerate the recent milestones of our Luxury make-up innovations, as well as build a skincare portfolio of complementary brands and the required global capabilities," added the CEO.
Recently, Coty has sought to bolster its prestige portfolio with the purchase of Kylie Jenner's Kylie Cosmetics business and, in January of this year, the acquisition of a 20% stake in Kim Kardashian West's KKW beauty brand.
In the third quarter ended March 31, 2021, Coty saw its revenues decline 3% year over year to $1.03 billion. However, sales of its prestige products totaled $600.6 million, reflecting growth of 6.5%, driven by brands such as Gucci and Philosophy.
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