COTY stock is on the rise Thursday following positive news about Gucci lipstick sales.
Coty (NYSE:COTY) release its own line of Gucci lipstick in May with 58 shades. The launch of the product was much better than the company was expecting with it selling more than 1 million tubes of the beauty product during its first month.
Coty says that the launch of the Gucci lipstick line has been incredibly successful for it. CEO Pierre Laubie pointed out as much by saying that the company saw 33,000 tubes of lipstick sell from one store in Asia during just a single day.
Those numbers are already amazing, but the great thing for COTY stock is that the company doesn’t plan to stop with just lipstick. Now that the Gucci lipstick was a success, it is looking to introduce more beauty products to the line, reports Harper’s Bazaar.
- “my lover just bought me a gucci lipstick can i marry him now pwease?”
- “Gucci Lipstick. OMG! 😍😍😍”
- “My bf surprised me with a Gucci lipstick 😭💘”
- “Gucci lipstick $39 😭 I barely wanna pay my lil $16 for MAC lipstick.”
- “wearing my gucci lipstick today.”
Looks like COTY will be doing well if its other beauty products can match its Gucci lipstick.
COTY stock was up 4% as of Thursday afternoon and is up 35% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.