Estée Lauder
The Estée Lauder Companies Inc is an American multinational manufacturer and marketer of skincare, makeup, fragrance, and hair care products, based in Midtown Manhattan, New York City. The company owns a diverse portfolio of brands, distributed internationally through both digital commerce and retail channels. Brands owned by Estée Lauder include Aerin, BECCA, Bobbi Brown, Clinique, Darphin, DECIEM by Brandon Truaxe, Estée Lauder, Forest Essentials, GLAMGLOW, La Mer, Lab Series, MAC Cosmetics. Estée Lauder’s portfolio includes more than 25 brands that are available in 150 countries. The beauty products firm has more than 48,000 employees worldwide.
Temporary retail store closures due to the coronavirus pandemic triggered a 4% year-on-year fall in Estée Lauder’s net sales to $14.29bn. It was partially offset by an increase in sales through online channels. The company’s revenues were also boosted by net sales of perfumes and cosmetics maker Have&Be, which was acquired by Estée Lauder in December 2019. The company implemented digital strategies to enhance sales by tapping online customer demand during the second half of 2020.
Estée Lauder’s skincare products category showed resilience, recording a 12.68% growth to achieve net sales of $7.38bn. Estée Lauder’s earnings in the Americas and Europe, the Middle East & Africa decreased year on year by 20% and 3%, respectively. The Asia Pacific region, however, saw a 15% increase in net sales, with a particularly strong performance in Mainland China.
