Estee Lauder
This article was originally published in The Rose Sheet
Executive Summary
Recently announced partnership with Tom Ford will benefit Estee Lauder brand by associating the cosmetics line with former Gucci designer's "leadership, authority and creativity," and even though he will create only limited-edition items for the brand, his imprint will likely impact Lauder's image for several years down the line, CEO William Lauder tells analysts during April 28 sales and earnings call. Net sales in Q3 (ended March 31) grew 8.2% to $1.54 bil., or 6% in local currencies, while net earnings were up 8% to $106.2 mil., firm reports. Skin care sales grew 9% to $608.2 mil. on a reported basis, or 6% in local currencies, company notes. Makeup revenues advanced 6% to $628.2 mil. on a reported basis, or 5% in local currencies, while fragrance sales grew 12% to $228.7 mil. on a reported basis (11% in local currencies). Hair care revenues were up 10% to $67.3 mil. on a reported basis (9% in local currencies)...