June 25, 2013
(NYSE: COTY), an emerging leader in global beauty, has announced that effective
July 1, 2013
will be appointed to the role of senior vice president, Global Marketing American Fragrances, Coty Prestige. Additionally,
has been promoted to the newly created role of senior vice president Color Cosmetics, Coty Beauty.
In his new position Mormoris will build strong pillars on brands such as
and Balenciaga, as well as develop new luxury fashion/lifestyle brands that consolidate Coty's fragrance leadership in the world. He will also retain responsibility for scouting new partnerships in the fragrance arena as well as overviewing some strategic relationships with existing partners. Mormoris will report to
, president, Coty Prestige.
"Steve is a seasoned, top-notch marketer who has played a key role in Coty's success over the past 12 years," said
. "Thanks to his creativity, business sense and broad understanding of global market trends, he has built strong, enduring, consumer-relevant brands in cosmetics and fragrances. His appointment will further strengthen the global ambitions of our brands, as we continue to develop Coty as a dynamic worldwide beauty leader."
"I have a real passion for Coty, the beauty industry and the brand partners who have been so instrumental in our success," said Mormoris. "I look forward to taking on this new role with gusto and helping the Coty brand further develop through Coty Prestige; the potential is fantastic."
Mormoris, who joined Coty in 2001, has been the architect of the Coty Beauty fragrance portfolio, establishing powerhouse fashion and celebrity brands spanning the prestige and mass markets, and overseeing strong organic growth. For example, he has developed strong relationships with Coty license partners such as
David and Victoria Beckham
, among others.
He also contributed greatly to the development of Coty's color cosmetics portfolio, which now spans entry price brands to more premium/image-driven brands. Notably, he greatly contributed in turning Rimmel into a leading trendy, value-driven global cosmetics brand. Also, he was responsible for leveraging the Sally Hansen's leadership positioning in the nail category in the U.S., creating different consumer offers in nail color, nail appliques and gel color technology.