Estee Lauder news and archive

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...

Report

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...

ManagementFeatured

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...

Report

Puig prepares to go public, setting share price at 24,50 euros

Spanish fragrance and fashion conglomerate Puig is poised to debut on the stock market this Friday, marking one of the most highly anticipated IPOs of the quarter. The company, which owns prominent brands like Dries Van Noten, Byredo, and Charlotte Tilbury, seeks to raise 2.6 billion euros, with a share price guidance of 24.50 euros per share,...

ManagementFeatured

Frédéric Malle is exiting his fragrance brand Editions de Parfums

Fragrance purveyor Frédéric Malle is exiting his brand Editions de Parfums Frédéric Malle by the end of June 2024. A pioneer of niche perfumes, Mr. Malle began his brand a quarter of a century ago, collaborating with designers such as Dries Van Noten and Acne to create sensory art, referring to perfume as “the mirror of your soul.” Not a...

Report |Beauty

Kiki secures funding from Estée Lauder's investment arm NIV and A16z Crypto

Kiki, the community commerce beauty company, has raised 7 million US dollars from investors, including A16z Crypto and The Estée Lauder Companies' investment arm New Incubation Ventures (NIV). Other initial funding round investors included consumer-tech funds Double Down, 2Punks Capital and Advancit, digital communities RedDao and OrangeDao, and...

People

Estée Lauder general counsel Deirdre Stanley steps down

The Estée Lauder Companies has announced the departure of Deirdre Stanley, executive vice president and general counsel. The company said in a statement that Stanleys will remain in her role until April 2, 2024. “Deirdre is a highly respected leader and colleague across our organisation and industry. Since joining ELC in 2019, she has made many...

ManagementFeatured

Estée Lauder to lay off 3 to 5 percent of workforce to boost margins

Cosmetics company Estée Lauder has announced the expansion of its Profit Recovery Plan for fiscal years 2025 and 2026 to include a restructuring program. In connection with the restructuring program, Estée Lauder estimates a net reduction of approximately 3 to 5 percent of its positions by June 30, 2023. Upon completion of this plan, the company...

Business

Tom Ford could double retail footprint with 50 new stores

In a bid to leverage its formidable brand name, Tom Ford's fashion division, currently operating just 51 stores, is poised to potentially double its retail presence to 100 stores in the coming years. The ambition was outlined by Gildo Zegna, Chairman of Zegna, the owner of Tom Ford's fashion arm, during an investor's day in New York. Zegna...

People

"I was a commercial fashion designer," Tom Ford says in GQ exit interview

One year ago, in November 2022, the fashion industry witnessed the acquisition of Tom Ford International by beauty behemoth Estée Lauder for a cool 2.8 billion dollars. In an exclusive interview with GQ’s Editorial Director Will Welch, Tom Ford, the eponymous designer, offers unfiltered insights into this unprecedented business move and why he...

ManagementFeatured

Estée Lauder posts decline in Q1 sales and earnings

The Estée Lauder Companies Inc. reported net sales of 3.52 billion dollars for its first quarter, a decline of 10 percent, while organic net sales declined 11 percent. The company reported net earnings of 31 million dollars compared with 489 million dollars in the prior year and diluted net earnings per common share was 9 cents compared with...

Business

Estée Lauder Companies to establish Parisian atelier to bolster fragrances

Beauty giant Estée Lauder Companies (ELC) has said it will be establishing an atelier in Paris, France, as it looks to bolster strategic ambitions in the area of luxury and prestige fragrances. Through the atelier, which will exclusively be focused on fragrance innovation and craftsmanship, ELC is hoping to capitalise on the momentum of the...