CoverGirl just signed “The Equalizer,” bringing actress and singer Queen Latifah back into the spokesperson fold.
The star, who has won a Grammy, an Emmy, a Golden Globe (and was nominated for an Oscar), previously collaborated with the Coty-owned brand back in 2006. That included her role as the face of Clean Foundation and Outlast Lipcolor, which Coty says helped pave the way for inclusive makeup colors in mainstream brands.
Coty says Queen Latifah will be the face of a still-unannounced collection, and has signed a multiyear partnership.
CoverGirl’s got a full house of famous faces. Last year, it brought back supermodel Niki Taylor for the Simply Ageless collection. Other celebrities include actress America Ferrera -- and, last month, country singer Kelsea Ballerini.
The announcement comes as the parent company reports sales gains ahead of expectations, with more evidence that its long-labored turnaround is continuing. It also raised its forecasts for the months ahead, further buoying investor confidence.
In the third quarter of its fiscal year, Coty says sales gained 15% to $1.19 billion.
Revenues rose 8% to $459.8 million in the consumer division, outperforming the global mass beauty market. Rimmel, Max Factor, Sally Hansen, and CoverGirl all recorded share gains. Supply-chain struggles left CoverGirl short of Clean mascara, which is says slowed gains.
Revenues in the prestige business jumped 21% to $726.4 million. Sales of high-end fragrances rose 20%, with Gucci Beauty, Chloe, Burberry and Hugo Boss leading the way. And prestige cosmetics, including Gucci Beauty, Burberry and Kylie Cosmetics, nearly doubled in sales.
Coty’s net income rose to $50.3 million, compared to a loss of $18.5 million in the year-ago period.
The report marks the company’s seventh consecutive quarter of reporting results in line or ahead of forecasts, which management says confirms its decision to step up media spending.