Estee Lauder Eliminating Up To 2,000 Heads As It Rationalizes Brick-And-Mortar, Reinvests Online
Executive Summary
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.
You may also be interested in...
Estee Lauder Companies Fueling Skin Care, Online In Pursuit Of Renewed Growth In 2021
The Estee Lauder Companies says mature consumers represent a population of growing interest to its online business, and while its makeup sales remain sluggish as mask use continues around the world, fragrance sales are bouncing back surprisingly fast. First-quarter results.
L’Oreal Names CEO To Follow Agon; ELC And Coty Appoint Digital Leadership; Executive News In Brief
Deputy CEO Nicolas Hieronimus will take L’Oreal’s helm beginning in May 2021, with Jean-Paul Agon continuing as chairman, the firm announced on 14 October. The Estee Lauder Companies hires PepsiCo’s Gibu Thomas to lead its online business, and Coty appoints its first chief digital officer.
Estee Lauder Companies Talks China, Digital At Barclays Consumer Conference
Before COVID-19, Lauder projected that a third of prestige beauty sales industry-wide would be generated online by 2033. The pandemic has sped up that process, starting in China, and Lauder is making strategic moves accordingly.