Estee Lauder news and archive

Headwinds in China and Asia travel retail impact Estée Lauder's Q1

Estée Lauder’s first quarter net sales of 3.36 billion dollars, decreased by 4 percent, while organic net sales decreased 5 percent. For the second quarter reported and organic net sales are forecasted to decrease between 8 percent and 6 percent, reported diluted net earnings per share are projected to be between 2 cents and 19 cents and...

PeopleFeatured

Stéphane de La Faverie to succeed Fabrizio Freda as Estée Lauder’s new CEO

Estée Lauder has announced the appointment of Stéphane de La Faverie as its new president and chief executive officer and member of its board of directors, effective January 1, 2025. The company said in a statement that de La Faverie will succeed Fabrizio Freda, who announced his intention to retire earlier this year after more than sixteen...

PeopleFeatured

Tara Simon and Amber English to lead Estée Lauder’s North America business

The Estée Lauder Companies has announced that after more than 28 years with the company, Mark Loomis, group president, North America, will retire at the end of fiscal year 2025. He will be succeeded by Tara Simon, who will assume the role of president, North America, and Amber English, who will assume the role of president, digital and online,...

BusinessFeatured

Estée Lauder's sales and earnings decline

The Estée Lauder Companies reported full year net sales of 15.61 billion dollars, a decrease of 2 percent versus the prior year, while organic net sales decreased 2 percent. The company’s reported net earnings declined to 0.39 billion dollars. The company said that the fourth quarter net sales of 3.87 billion dollars, a 7 percent increase,...

People|Beauty Featured

The Estée Lauder Companies president and CEO to retire

The Estée Lauder Companies has announced that president and chief executive Fabrizio Freda intends to retire at the end of fiscal year 2025, after more than 16 years at the company. In a statement, Estée Lauder’s board said it was “well advanced” in its long-established CEO succession planning process and has considered many highly qualified...

People

Rashida La Lande to join Estée Lauder as EVP and general counsel

The Estée Lauder Companies has named Rashida La Lande as executive vice president and general counsel, effective August 19, 2024. The company said in a release that La Lande will jointly report to William P. Lauder, executive chairman, and Fabrizio Freda, president and chief executive officer. She will join the company’s executive leadership...

People

Estée Lauder names Akhil Shrivastava as chief financial officer

The Estée Lauder Companies (ELC) has appointed Akhil Shrivastava a executive vice president and chief financial officer, succeeding Tracey T. Travis, whose retirement was announced on July 11, 2024. Joining on November 1, 2024, Shrivastava will report to William P. Lauder, executive chairman, and Fabrizio Freda, president and chief executive...

Fashion |Opinion Featured

The founder's dilemma: evolving luxury brands beyond their creators

The luxury fashion landscape is in constant flux, with the departure of founding designers presenting a formidable challenge, particularly for younger brands. As Tom Ford navigates a pivotal transition following Peter Hawkings' brief tenure as creative director, it joins the ranks of houses like Helmut Lang, Martin Margiela and Jil Sander in...

Fashion

Tom Ford creative director Peter Hawkings departs after brief tenure

In a surprising turn of events, Tom Ford's creative leadership is once again in flux as Peter Hawkings, the brand's first appointed creative director post-acquisition, is set to exit after a mere year in the role. This development comes less than two years after Estée Lauder's high-profile acquisition of the luxury beauty and fashion house....

People

Estée Lauder CFO Tracey Travis to retire next year

The Estée Lauder Companies has announced that Tracey Travis, executive vice president and chief financial officer, will retire, effective June 30, 2025, after more than twelve years of service at the company. “Tracey has been an invaluable business partner and a trusted advisor to me, our executives and board of directors, as well as a mentor...

Business

Estée Lauder completes the acquisition of DECIEM

The Estée Lauder Companies (ELC) has completed its acquisition of the Canadian multi-brand company DECIEM Beauty Group. Estée Lauder first invested in DECIEM in 2017, increased its stake to become majority owner in 2021, and recently exercised its option to purchase the remaining interests after a three-year period on May 31, 2024 using cash on...

Fashion

L'Oreal and Estée Lauder perfumes linked to child labour, says report

A BBC investigation has uncovered the use of child labour in the jasmine supply chains of two major luxury perfume brands, Lancôme and Aerin Beauty. The investigation revealed that children are picking jasmine flowers in Egypt, which supplies about half of the world’s jasmine. Despite claims of zero tolerance for child labour from their parent...