The French American beauty company Coty saw its sales up 13% on a like-for-like basis (LFL) for the second quarter of its fiscal year, and up by 14% LFL for the first half.
According to market insights company Statista, by 2028, the global male grooming market is estimated to be worth about $115bn (US dollars) – up from nearly $80bn in 2022.
The Belgium-based chemicals company said that the investment, made through its venture capital fund, will help to bring more sustainable products and processes to market.