<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)

/X/  QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE 
                                   ACT OF 1934

                      For the Quarter Ended March 31, 1998

                                       OR
/ /  TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE 
                                   ACT OF 1934

              For the transition period from _________ to _______.

Commission file number 1-13714

                                  COTY US INC.
             (Exact name of registrant as specified in its charter)

               Delaware                                  06-1342491
       (State of Incorporation)                (IRS Employer Identification No.)
  237 Park Avenue, New York, New York                      10017
(Address of principal executive offices)                (Zip code)

        Registrant's telephone number, including area code: 212-850-2300

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subjected to such filing
requirements for the past 90 days.

Yes /X/             No / /

As of May 14, 1998 there were 100 shares of the Company's common stock
outstanding, all of which were held by Coty Inc., a subsidiary of Joh. A.
Benckiser GmbH.

<PAGE>

                                  COTY US INC.
                                    FORM 10-Q

                                      INDEX

Part I.    Financial Information                                            Page
                                                                            ----
           Item 1.    Financial Statements

           Consolidated Balance Sheets as of March 31, 1998 and 
           December 31, 1997...............................................    3

           Consolidated Statements of Operations for the three months 
           ended March 31, 1998 and 1997...................................    4

           Consolidated Statements of Cash Flows for the three months 
           ended March 31, 1998 and 1997...................................    5

           Notes to Unaudited Consolidated Financial Statements............    6

           Item 2.    Management's Discussion and Analysis of Financial 
                      Condition and Results of Operations..................    8

Part II.   Other Information...............................................   10

           Signature.......................................................   11

                                       2

<PAGE>

                          PART I. FINANCIAL INFORMATION

ITEM 1:    FINANCIAL STATEMENTS

                          COTY US INC. AND SUBSIDIARIES
                           CONSOLIDATED BALANCE SHEETS
                    (Dollars in Thousands, Except Share Data)


<TABLE>
<CAPTION>
                                                                    March 31, 1998               December 31, 1997
                                                                    --------------               -----------------
                                                                     (Unaudited)
<S>                                                                 <C>                           <C>
Assets
Current assets
     Cash and cash equivalents..............................           $    131                       $ 17,678
     Trade accounts receivable, less allowance for doubtful
         accounts of $5,894 and $5,344, respectively........             43,539                         70,901
     Inventories............................................            109,607                         83,495
     Due from affiliates, net...............................              4,457                          1,590
     Deferred income taxes..................................             31,145                         31,480
     Prepaid expenses and other current assets..............             15,264                         14,072
                                                                       --------                       --------
           Total current assets.............................            204,143                        219,216

Property, plant and equipment, net..........................             29,516                         28,583
Goodwill and other intangibles, net.........................            305,947                        310,827
                                                                       --------                       --------
           Total assets.....................................           $539,606                       $558,626
                                                                       ========                       ========

Liabilities and Stockholder's Equity
Current Liabilities
     Accounts payable.......................................           $ 40,693                       $ 41,701
     Income and other taxes payable.........................             10,836                         19,791
     Accrued liabilities....................................             93,687                        133,641
                                                                       --------                       --------
           Total current liabilities........................            145,216                        195,133

Long-term bank debt.........................................             35,167                             --
Senior subordinated notes...................................            132,055                        131,951
Deferred income taxes ......................................             21,359                         21,098
Other long-term liabilities.................................             31,404                         31,248
                                                                       --------                       --------
           Total liabilities................................            365,201                        379,430
                                                                       --------                       --------

Preferred stocks of subsidiary held by affiliate............             97,164                         95,825
                                                                       --------                       --------


Stockholder's equity
     Common stock, $1 par, 100 shares authorized, issued
         and outstanding....................................                 --                             --
     Additional paid-in capital.............................             36,809                         36,809
     Retained earnings......................................             40,432                         46,562
                                                                       --------                       --------
           Total stockholder's equity.......................             77,241                         83,371
                                                                       --------                       --------
           Total liabilities and stockholder's equity.......           $539,606                       $558,626
                                                                       ========                       ========
</TABLE>

            See Notes to Unaudited Consolidated Financial Statements.

                                       3

<PAGE>

                          COTY US INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                             (Dollars in Thousands)
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                     Three Months Ended March 31,
                                                              ----------------------------------------
                                                                 1998                         1997
                                                                 ----                         ----
<S>                                                          <C>                            <C>
Net sales.............................................        $   62,050                     $  54,484
Cost of sales.........................................            21,933                        17,890
                                                              ----------                     ---------
           Gross profit...............................            40,117                        36,594


Selling, general and administrative...................            44,825                        41,301
Amortization of intangibles...........................             4,883                         4,882
                                                              ----------                     ---------
           Operating loss.............................            (9,591)                       (9,589)


Interest expense......................................             4,252                         4,420
Other income, net.....................................              (790)                         (614)
Minority interest in preferred stocks.................             1,339                         1,339
                                                              ----------                     ---------
           Loss before income taxes...................           (14,392)                      (14,734)


Income tax benefit....................................             8,261                         7,986
                                                              ----------                     ---------

           Net loss...................................        $   (6,131)                    $  (6,748)
                                                              ===========                    ==========
</TABLE>


            See Notes to Unaudited Consolidated Financial Statements.

                                       4

<PAGE>
                          COTY US INC. AND SUBSIDIARIES
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                             (Dollars in Thousands)
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                 Three Months Ended
                                                                                 ------------------
                                                                                     March 31,
                                                                                     ---------
                                                                            1998                      1997
                                                                            ----                      ----
<S>                                                                      <C>                    <C>
Cash flows from operating activities
Net loss ............................................................     $  (6,131)             $   (6,748)
Adjustments to reconcile net loss to net cash used in operating
    activities:
           Depreciation and amortization.............................         6,259                   5,996
           Minority interest in preferred stocks.....................         1,339                   1,339
           Deferred income taxes.....................................           596                     706
           Provision for post-retirement benefits....................           406                     642
           Provision for bad debts...................................           540                     402
    Changes in operating assets and liabilities:
           Decrease in accounts receivable...........................        26,822                  41,061
           Increase in inventories...................................       (26,112)                (21,794)
           (Increase) decrease in prepaid expenses and other current
           assets....................................................        (1,195)                    369
           Decrease in accounts payable..............................        (1,008)                 (9,454)
           Decrease in accrued liabilities and other.................       (49,316)                (62,120)
                                                                          ---------              ----------
Net cash used in operating activities................................       (47,800)                (49,601)
                                                                          ---------              ----------
Cash flows from investing activities
            Purchase of property, plant and equipment................        (2,047)                   (776)
                                                                          ---------              ----------
Net cash used in investing activities................................        (2,047)                   (776)
                                                                          ---------              ----------
Cash flows from financing activities
           Net proceeds from long-term bank debt.....................        35,167                  42,654
           (Increase) decrease in due from affiliates, net...........        (2,867)                    569
                                                                          ---------              ----------
Net cash provided by financing activities............................        32,300                  43,223
                                                                          ---------              ----------
Net decrease in cash and cash equivalents............................       (17,547)                 (7,154)

Cash and cash equivalents, beginning of period.......................        17,678                   7,199
                                                                          ---------              ----------
Cash and cash equivalents, end of period.............................      $    131              $       45
                                                                          =========              ==========


Cash paid for:
Interest.............................................................     $     134              $      264
                                                                          =========              ==========
Income taxes.........................................................     $      97              $    3,014
                                                                          =========              ==========
</TABLE>

            See Notes to Unaudited Consolidated Financial Statements.

                                       5

<PAGE>

                     COTY US INC. AND SUBSIDIARIES
         NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (Dollars in Thousands)

(1)    Basis of presentation

             The accompanying unaudited consolidated financial statements
       include the accounts of Coty US Inc. ("Coty US") and its subsidiaries
       (collectively, the "Company") after elimination of all material
       intercompany balances and transactions. Coty US is a wholly owned
       subsidiary of Coty Inc., which is a subsidiary of Joh. A Benckiser
       GmbH. These financial statements should be read in conjunction with the
       consolidated financial statements and the notes thereto contained in the
       Company's Annual Report on Form 10-K. The interim statements are
       unaudited but include all adjustments, which consist of only normal and
       recurring accruals, that management considers necessary to fairly present
       the results for the interim periods. Results for interim periods are not
       indicative of results for a full year due to the seasonal nature of the
       Company's business. The Company will change its fiscal year-end from
       December 31 to June 30, effective for the period ending June 30, 1998.

        

(2)    Recent Accounting Pronouncements

             During fiscal 1997, the Financial Accounting Standards Board issued
       the following accounting standards: Statement of Financial Accounting
       Standards No. 130, "Reporting Comprehensive Income" (SFAS No. 130),
       Statement of Financial Accounting Standards No. 131, "Disclosures about
       Segments of an Enterprise and Related Information" (SFAS No. 131), and
       Statement of Financial Accounting Standards No. 132, "Employers
       Disclosures about Pension and other Postretirement Benefit Plans" (SFAS
       No. 132). During the quarter ended March 31, 1998, the Company does not
       have any items that would be reportable as a component of comprehensive
       income other than its loss from operations, which is reported as a
       component of stockholder's equity. The Company does not expect any 
       material effect from the adoption of SFAS No. 131 and 132.

(3)    Inventories

            Inventories consisted of the following:

                                             March 31,          December 31, 
                                              1998                 1997
                                              ----                 ----
        Raw materials.................      $  37,755            $  29,652
        Work-in-process...............         27,873               17,786
        Finished goods................         43,979               36,057
                                            ---------            ---------
                                            $ 109,607            $  83,495
                                            =========            =========

                                      6


<PAGE>

                     COTY US INC. AND SUBSIDIARIES
         NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
                        (Dollars in Thousands)

(4)    Parent Only Financial Information

             Coty US's subsidiaries, QHIG and Quintessence, are guarantors
       of the Company's Senior Subordinated Notes due 2005 (the "Notes").
       Substantially all operations, assets and liabilities of the Company are
       those of Coty US. Summarized unconsolidated financial information of Coty
       US, exclusive of intercompany balances between Coty US and its
       subsidiaries, is as follows:

                                               March 31,            December 31,
                                                1998                   1997
                                                ----                   ----
       Balance Sheets:
       Current assets.....................    $ 200,530              $ 215,428
       Non-current assets.................      300,889                304,838
       Current liabilities................      142,057                191,974
       Non-current liabilities............      215,523                179,588


                                                  Three Months Ended March 31,
                                                 1998                  1997
                                                 ----                  ----

       Statements of Operations:
       Net sales..........................    $  62,050              $  54,484
       Gross profit.......................       40,117                 36,594
       Operating loss.....................       (8,722)                (8,720)
       Loss before income taxes...........      (12,105)               (12,118)
       Net loss...........................       (7,118)                (7,123)


                                       7

<PAGE>

ITEM 2:

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                           AND RESULTS OF OPERATIONS
                             (Dollars in Thousands)

Results of Operations

         Net sales increased by $7,566, or 13.9%, to $62,050 for the three
months ended March 31, 1998 from $54,484 for the three months ended March 31,
1997. The increase is primarily due to strong first quarter results for Calgon
bath and body products and The Healing Garden aromatherapy product line. The

Company launched its line of Calgon body mists in first quarter 1997 and The
Healing Garden line late in the third quarter of 1997. During the first quarter
of 1998, the Company has introduced Calgon body lotions and shower gels to
complement its body mist fragrances and continues to expand the distribution of
The Healing Garden line to additional mass-market stores. Partly offsetting this
increase was lower Mother's Day promotional sales.

         Gross profit was 64.7% and 67.2%, respectively, of net sales for the
three months ended March 31, 1998 and 1997. Gross profit percentage for the
three months ended March 31, 1998 decreased as a result of a change in product
mix. The Healing Garden and Calgon product lines have relatively lower profit
margins as compared to the Company's other fragrances. Additionally, more
expensive packaging for Mother's Day promotional products contributed to a lower
profit margin.

         Selling, general and administrative expenses increased by $3,524, or
8.5%, to $44,825 for the three months ended March 31, 1998 from $41,301 for the
three months ended March 31, 1997. As a percentage of net sales, selling,
general and administrative expenses decreased to 72.2% for the three months
ended March 31, 1998 from 75.8% for the three months ended March 31, 1997 due to
higher net sales. The Company spent approximately $25,069 or 40.4% of net sales,
for advertising and promotional purposes for the three months ended March 31,
1998 compared to $22,503, or 41.3% of net sales, for the three months ended
March 31, 1997.

         Interest expense decreased by $168, or 3.8%, to $4,252 for the three
months ended March 31, 1998 from $4,420 for the three months ended March 31,
1997. The decrease was due to lower average borrowings and was partly offset by
higher interest rates.

          Other income, net increased by $176 to $790 for the three months ended
March 31, 1998 from $614 for the three months ended March 31, 1997. The increase
is primarily due to fees from Lancaster Group US LLC, an affiliate, recorded by
the Company in return for providing various administrative, manufacturing and
distribution services.

Financial Condition, Liquidity and Capital Resources

           The Company's business is seasonal in nature. During the first and
second quarters of the year working capital borrowings generally increase as
payments are made for the prior Christmas season's advertising and promotional
costs, credits are given for returns and inventory purchases are made. These
borrowing requirements are partly offset by significant cash collections related
to prior year Christmas season sales. Borrowings generally continue to increase
during the third quarter, primarily to finance the build up of accounts
receivable related to the back-to-school and Christmas selling seasons. During
the fourth quarter, significant cash is generated as customer payments on
Christmas orders are received.

           The Company's principal future uses of funds are expected to be for
operating expenses, working capital requirements, debt service, income taxes
and, subject to limitations under the Company's debt instruments, dividend
payments to its parent. In December 1994, the Company entered into an


                                       8

<PAGE>

           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                           AND RESULTS OF OPERATIONS
                             (Dollars in Thousands)

unsecured credit facility (the "Credit Facility") which provided the Company
with (i) a term loan which has been repaid and (ii) a revolving loan facility
(the "Revolving Loan Facility") of up to $160,000. Up to $10,000 of the
Revolving Loan Facility may be used to issue standby and/or commercial letters
of credit. As of March 31, 1998, borrowings under the Revolving Loan Facility
amounted to $35,167. There were no outstanding borrowings under the Revolving
Loan Facility as of December 31, 1997. Unamortized debt issuance costs related
to the Credit Facility amounted to $1,103 and $1,260 at March 31, 1998 and
December 31, 1997, respectively.

           Subject to certain exceptions, the Credit Facility restricts the
Company's ability to pay dividends on the preferred stocks other than in-kind.
The Credit Facility also contains certain covenants that place restrictions
(subject to certain exceptions) on the Company (and its subsidiaries) with
respect to guarantees, sale of certain assets, consolidations and mergers, loans
and advances, indebtedness, issuance of stock and change of control.

           In April 1995, the Company consummated a public offering for
$135,000 of aggregate principal amount 10.25% Notes, maturing on May 1, 2005.
The Notes contain certain covenants including provisions that place restrictions
(subject to certain exceptions) on the Company (and its subsidiaries) with
respect to guarantees, loans and advances, indebtedness, sale of certain assets,
mergers and consolidations, issuance and sale of subsidiary stock and certain
transactions with affiliates, including capital stock dividend payments.

           The Company's primary sources of funds are expected to be cash from
operations and borrowings under the Revolving Loan Facility. Management believes
that the Company's cash on hand, anticipated funds from operations and
borrowings under the Revolving Loan Facility will be sufficient to cover the
Company's working capital, debt service and capital expenditure requirements for
a period of at least twelve months.

Certain Factors That May Affect Future Results

           From time to time, information provided by the Company, statements
made by its employees or information included in its filings with the Securities
and Exchange Commission (including the Company's Annual Report on Form 10-K and
this Form 10-Q) may contain statements which are not historical facts, so-called
"forward-looking statements", which involve risks and uncertainties. In
particular, statements in "Management's Discussion and Analysis of Financial
Condition and Results of Operations" relating to the sufficiency of funds to
meet working capital and capital expenditure requirements may be forward-looking
statements. The Company's actual future results may differ significantly from
those stated in any forward-looking statements. Factors that may cause such
differences include, but are not limited to, the factors discussed below. Each

of these factors, and others, are discussed from time to time in the Company's
filings with the Securities and Exchange Commission which are deemed
incorporated by reference herein.

           The Company's quarterly and annual operating results are affected by
a wide variety of factors that could materially adversely affect revenues and
profitability, including: competitive pressures on selling prices; the timing
and cancellation of customer orders; the loss of a significant customer; returns
from certain retailers; changes in product mix; the Company's ability to
introduce new products on a timely basis; introduction of products by the
Company's competitors; market acceptance of the Company's and its competitors'
products; the level of orders received which can be shipped in a quarter; the
Company's success in its marketing efforts; the timing of investments in
research and development; and the Company's ability and its suppliers' and
customers' ability to replace, modify, or upgrade computer programs in ways that
adequately address the Year 2000 issue. As a result of the foregoing and other
factors, the Company may experience material fluctuations in future operating
results on a quarterly or annual basis which could materially and adversely
affect its business, financial condition and operating results.

                                       9

<PAGE>

                           PART II. OTHER INFORMATION

Item 1    Legal Proceedings - The Company is involved in various routine legal 
                              proceedings arising in the ordinary course of its
                              business. The Company believes that the outcome 
                              of all pending legal proceedings in the 
                              aggregate will not have a material adverse 
                              effect on the financial condition or results of 
                              operations of the Company.

Item 6    Exhibits and Reports on Form 8-K

          (a)   Exhibits: None
          (b)   Reports on Form 8-K: None

                                       10

<PAGE>


                                    SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed by the undersigned thereunto
duly authorized.

                                  COTY US INC.


                                                          /s/ Daniel J. Finnegan
                                                          ----------------------
                                                              Daniel J. Finnegan
                                                         Vice President, Finance
                                                        (Principal Financial and
                                                             Accounting Officer)


Dated:     May 14, 1998