CoverGirl chased Gen Z for a decade, lost share — Coty resets the brand on Gen X

Since its 1961 launch, CoverGirl sold makeup to young shoppers through up-and-coming celebrities — Taylor Swift signed at 20, Zendaya at 19. That pursuit of teens and 20-somethings is now officially a mistake inside its own owner. 'CoverGirl made the mistake of seeing the success of the indie brands and the interest of the younger Gen Z consumer and saying, "We need to do that too"', says Gordon von Bretten, president of the consumer beauty division at Coty, which has owned the brand since 2016.

Coty bought CoverGirl with 40-plus other brands from Procter & Gamble in a $12.5B deal; since then the brand 'has lost market share and relevance, and top-of-mind awareness has gone down', von Bretten says. The cohort it walked away from looks better and better: Gen X — born roughly 1965 to 1980 — accounts for about a third of beauty spending and, per NIQ, will remain the world's highest-spending generation across categories through at least 2033. Meanwhile Gen Z and Gen Alpha buyers switch constantly between products found on TikTok Shop, rarely loyal to one brand.

The reset, laid out in July 2026: a campaign starting midsummer across TV and social featuring models aged 45 to 55 instead of 20-something celebrities, and every new product held below a 'magical' $10 price point — ideally $9.95 — after launches at $12 to $15 failed to meet sales expectations. The affordability is funded by getting leaner, shifting more manufacturing and product development to third-party partners. Bank of America analyst Anna Lizzul cautions the strategy is 'more short-term-oriented than long-term-oriented' unless CoverGirl keeps a pipeline of future consumers engaged.

Coty's latest fiscal year: losses near $400M on $5.9B revenue; market value down more than 70% in five years to about $2B

CoverGirl spent years copying indie brands' youth playbook instead of defending the Gen X base that already knew the brand.

Gen Z and Gen Alpha shoppers switch products constantly via social media and TikTok Shop, so the youth chase bought little loyalty.

Premium-priced launches at $12-$15 missed sales expectations, undercutting the affordability that made CoverGirl a mass brand.

The $12.5B P&G brands deal loaded Coty with debt while the mass brands kept losing share, forcing restructuring-minded leadership to act.

A heritage brand that abandons its core customer to chase a trend cohort usually ends up owning neither — and the correction takes years.

Coty hired von Bretten, a restructuring specialist who had been its chief transformation officer from 2020 to 2024, to lead consumer beauty in autumn 2025, announced a sweeping leadership overhaul in December 2025 and launched a strategic review of the portfolio — with nothing sold so far. Coty says CoverGirl will 'continue to be a brand for all demographics and generations' with Gen X as its 'sweet spot'; the new campaign broke in midsummer 2026.