Coty Inc. COTY is undertaking robust innovations to drive growth. The company stated that it will introduce a digitally-enabled touch-less fragrance tester to be used at beauty retailers in the next 12 months. The testing of the device at brick & mortar retail stores across some European markets will start sometime in July. By the end of the year, Coty plans to try the device in Asian markets. With the help of the new innovation, customers can accurately test fragrance in a less invasive manner. Coty’s new touch-less fragrance tester, developed in partnership with a French start-up — Everie — is a sustainable and easy-to-maintain device. It also utilizes less amount of perfume compared with traditional testers, thereby lowering wastage. This alternate contact-free and safe fragrance testing device bodes well amid rising hygiene and safety concerns of customers as they return to stores for shopping. The iconic beauty company and a leader in fragrances, expects to enhance customer’s shopping experience and improve in-store sales via the launch.Image Source: Zacks Investment ResearchWhat Else Should You Know?The company made several strategic partnerships to enhance its brand portfolio. Coty and Kylie Jenner unveiled their long-term alliance in January 2020, aimed at further building upon Kylie’s beauty business, which includes Kylie Skin and Kylie Cosmetics. In recent developments, the company announced its plans to relaunch Kylie Cosmetics, now formulated using clean and vegan ingredients with a revamped packaging. The products will be made available on a new direct-to-consumer (DTC) website, which is scheduled to go live on Jul 15, 2021. The website will feature Kylie Skin and Kylie Cosmetics items together and will serve as an avenue for new product and collection launches.On Mar 3, 2021, the company signed a letter of intent to partner with LanzaTech — a pioneer in producing next-generation green and sustainable ingredients. This partnership will introduce sustainable ethanol produced from captured-carbon emissions into Coty’s fragrance offerings. In January 2021, Coty acquired 20% stake in Kim Kardashian West's businessin January 2021. The deal will help Coty and Kim Kardashian West focus on fresh beauty categories along with expanding their worldwide presence beyond the current line of products.Coty, which shares space with Helen of Troy Limited HELE, is committed to its core strategies that includes stabilizing Consumer Beauty make-up brands and mass fragrances; accelerating luxury fragrances and setting up Coty as a core player in prestige make-up; establishing skincare portfolio in prestige and mass channels; strengthening e-commerce and DTC capabilities; growing presence in China via Prestige and certain Consumer Beauty brands; as well as setting Coty as an industry leader in sustainability.Shares of this Zacks Rank #2 (Buy) have rallied 25.8% so far this year compared with the industry’s growth of 17.6%.Top 2 Cosmetic PicksInter Parfums, Inc. IPAR, currently carrying a Zacks Rank #2, has a trailing four-quarter earnings surprise of 27.3%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Nu Skin Enterprises, Inc. NUS, currently carrying a Zacks Rank #2, has a trailing four-quarter earnings surprise of 18.8%, on average. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Helen of Troy Limited (HELE): Free Stock Analysis Report Inter Parfums, Inc. (IPAR): Free Stock Analysis Report Nu Skin Enterprises, Inc. (NUS): Free Stock Analysis Report Coty Inc. (COTY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research