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The Estée Lauder Companies Inc. (NYSE: EL) is a globally recognized leader in the beauty industry. Specializing in high-quality skincare, makeup, fragrance, and hair care products, the company touches over half a billion consumers annually. Founded in 1946 by Estée Lauder and her husband, Joseph Lauder, the company has grown to be a dominant force in the luxury beauty market.
Estée Lauder's extensive portfolio includes well-known brands such as Estée Lauder, Clinique, MAC, Bobbi Brown, La Mer, Aveda, and many others. These products are sold in over 150 countries and territories, making the company's reach truly global. The firm's diverse distribution channels include department stores, travel retail, specialty multibrand beauty stores, brand-dedicated freestanding stores, e-commerce, salons/spas, and perfumeries.
The company has a strong market presence, generating 28% of its revenue from the Americas, 39% from Europe, the Middle East, and Africa (including travel retail), and 33% from the Asia-Pacific region. In 2023, Estée Lauder achieved 52% of their total sales from skincare products, followed by 28% from makeup, 16% from fragrances, and 4% from hair care.
Recent achievements include significant participation in high-impact social initiatives. For instance, M·A·C Cosmetics continues its long-standing commitment to supporting the fight against HIV/AIDS through the VIVA GLAM campaign, which has raised over $520 million globally. Additionally, M·A·C Cosmetics was the exclusive backstage beauty sponsor for Howard University's 2024 Springfest Fashion Show, emphasizing diversity and representation in the fashion and beauty sectors.
Estée Lauder is continuously innovating and expanding its product lines to meet consumer demands. Its financial condition remains robust, supported by strategic partnerships and a dedicated workforce. The company is also deeply invested in sustainable practices and corporate social responsibility, aiming to create a positive impact on both the environment and the communities it serves.
For those looking to join a dynamic and impactful company, Estée Lauder offers numerous career opportunities, which can be explored on their official website, www.elcompanies.com.
MAC Cosmetics has refreshed its Back-To-M·A·C recycling program, originally established over 30 years ago, to enhance its sustainability efforts. This initiative allows consumers to return clean, empty containers at designated collection boxes found in participating stores. The updated program aims to collect over 660,000 pounds of product annually, with 220,000 to 440,000 pounds expected to be recycled in the U.S. this year, in partnership with Close the Loop. This commitment to environmental responsibility reflects MAC's dedication to reducing its packaging impact. For more details on the program and participating locations, consumers can visit www.maccosmetics.com/back-to-mac.
On July 1, 2023, The Estée Lauder Companies (NYSE:EL) announced the retirement of Sara Moss, Vice Chairman, after a notable career that began in 2003 as Executive Vice President and General Counsel. During her tenure, she played a pivotal role in the company’s growth, overseeing international expansions and major acquisitions. Sara was also a proponent of diversity initiatives, co-leading the Women’s Leadership Network and spearheading the Women’s Advancement and Gender Equality strategy. CEO Fabrizio Freda and Executive Chairman William P. Lauder praised her leadership and contributions, highlighting her commitment to the company and community. Sara leaves behind a legacy of dedication and professionalism as she transitions into retirement.
The Estée Lauder Companies Inc. (NYSE: EL) will participate in the UBS Global Consumer and Retail Conference in New York on Thursday, March 16, 2023, at 9:00 a.m. EST. A live webcast of the fireside chat will be available from 9:00 a.m. to 9:45 a.m. EST on the company’s investor relations website. The company is a leading global manufacturer and marketer of skin care, makeup, fragrance, and hair care products, selling in approximately 150 countries under renowned brands such as Estée Lauder, Clinique, M·A·C, and more. The webcast will also be archived for future access.
BALMAIN has appointed Hans Dorsinville as Senior Vice President (SVP), Global Creative, for BALMAIN BEAUTY, effective January 2023. He will report to Creative Director Olivier Rousteing in New York. Dorsinville has over 25 years of experience, previously serving as Chief Creative Officer at Gotham and held roles at Donna Karan. He will oversee all creative aspects of BALMAIN BEAUTY, ensuring a cohesive brand experience. This appointment follows a license agreement between Estée Lauder (NYSE: EL) and BALMAIN to develop a luxury beauty line, set to launch in fall 2024.
RuPaul celebrated the 200th episode of RuPaul's Drag Race on February 27, 2023, honoring the iconic 1994 MAC Viva Glam look. The episode showcased RuPaul in a striking red leather corset with gold accents, reminiscent of the original MAC campaign. This milestone event highlighted 14 years and 200 episodes of the Emmy-winning series, emphasizing its impact on the entertainment industry. The tribute aligns with MAC's long-standing commitment to empowerment and inclusivity through its Viva Glam initiative.
The Estée Lauder Companies reported a 17% decline in net sales for Q2 FY2023, totaling $4.62 billion, driven by adverse COVID-related impacts and currency fluctuations. Organic net sales decreased 11%, with diluted EPS falling 63% to $1.09.
Despite challenges, the company exceeded EPS expectations. Strong performance was noted in the Fragrance category, with double-digit growth. However, the outlook for the second half has been adjusted downwards due to ongoing volatility in travel retail and inflationary pressures, forecasting a further 10-8% decline in organic sales.
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