Coty wants to be #1

Coty announced a five-year plan that is intended to make it the largest fragrance company in the world, with sales of over $5b -- sales for fiscal 2006 are $2.9b.

The boost will come via innovations in the beauty and color cosmetics category, skin and suncare products and by building three brands—Calvin Klein, adidas and Rimmel—to the billion-dollar mark. The growth strategy also includes increasing its presence in Asia.

The plans, while ambitious, don't appear unrealistic. Coty has doubled in sales in the past five years.