For Estee Lauder Companies, COVID-19 Has Changed Everything And Nothing
Lauder’s business has been thrashed by COVID-19, but the firm is encouraged that its biggest growth drivers before the crisis are the same ones carrying it through.
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Lauder’s online business grew at a near triple-digit organic rate in the fiscal 2020 fourth quarter, and the firm intends to go on investing resources accordingly. The firm’s fiscal 2020 net sales slipped 4% to roughly $14.3bn, reported, due to COVID-19 effects.
Recent surveys from consulting, retail analytics and e-commerce logistics firms support the views of leading beauty and personal-care companies that are modifying their approaches in light of consumers’ changing means and preferences during COVID-19.
J&J’s US beauty president Michelle Freyre will take over ELC’s Clinique business in July, succeeding Jane Lauder, who has been appointed to a new role at the company focused on driving its digital evolution.