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.
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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.
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.