Estée Lauder Companies 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...

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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...

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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...

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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...

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...

Retail|Beauty

Le Labo strengthening UK retail footprint with new Leeds store

Fine perfumery Le Labo, part of The Estée Lauder Company, is set to make its regional debut at Victoria Leeds this summer as it continues to expand its international presence with a focus on premium retail destinations. The new 1,500 square-foot Le Labo Victoria Leeds boutique will be located on Queen Victoria Street, joining international...

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Estée Lauder names Shane Wolf as president global brands Aveda, Bumble and bumble

The Estée Lauder Companies has appointed Shane Wolf as president, global brands, Aveda and Bumble and Bumble, effective July 1, 2024. Wolf, the company said, will report to Jane Hertzmark Hudis, executive group president, The Estée Lauder Companies, and join the company’s executive leadership team. The company added that with more than 25...

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Estée Lauder delivers Q3 sales and earnings growth

For the third quarter, The Estée Lauder Companies reported net sales of 3.94 billion dollars, an increase of 5 percent with organic net sales increase of 6 percent due to double-digit growth in Europe, the Middle East & Africa (EMEA), driven by stronger sales in Asia travel retail. The company’s third quarter net earnings rose to 330 million...

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Dexter King promoted to global general manager of Tom Ford Beauty

Dexter King has been appointed as senior vice president, global general manager, Tom Ford Beauty. King stepped into this role effective April 1, 2024 and will continue reporting to Guillaume Jesel, president and CEO, Tom Ford and luxury business development, The Estée Lauder Companies. King will also join The Estée Lauder Companies extended...

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Lelio Gavazza named Tom Ford Fashion chief executive

The Ermenegildo Zegna Group has appointed Lelio Gavazza to the newly created position of chief executive officer of Tom Ford Fashion, effective September 18. In a statement, the fashion group said that Gavazza will report to Gildo Zegna, chairman and chief executive of the Zegna Group and will be part of the senior management of the group. As...

Business

Estée Lauder posts drop in Q3 sales and profit

The Estée Lauder Companies Inc. reported net sales of 3.75 billion dollars for its third quarter ended March 31, 2023, a decline of 12 percent from the prior-year period. Organic net sales fell 8 percent, primarily driven by Asia travel retail in Hainan and Korea. The company reported net earnings of 156 million dollars compared to 558 million...

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Estée Lauder vice chairman Sara Moss to retire in July

The Estée Lauder Companies Inc. (ELC) vice chairman Sara Moss has decided to retire, effective July 1, 2023. Moss began her career with the company in 2003 when she joined the organisation as executive vice president and general counsel, a position she served in until 2019 when she was promoted to vice chairman. “Sara is an exceptional legal...