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In 1964, they introduced Aramis, a line of fragrance and grooming products for men named after an exotic Turkish root originally used as an aphrodisiac. In 1967, Estée Lauder herself was named one of ten Outstanding Women in Business in the United States by business and financial editors. This was followed by a Spirit of genifique Achievement Award from Albert Einstein College of Medicine at Yeshiva University in 1968. In that year, the company expanded again, opening Clinique, a dermatologist-guided (Dr. Norman Orentreich), allergy-tested, fragrance-free cosmetic brand. Every day we are helping individuals express their own individual beauty.
The Estée Lauder Companies’ annual Breast Cancer Awareness campaign involves all of the 19 brands that make up the Estée Lauder Companies. They collectively represent The Breast Cancer Research Foundation’s first and largest corporate supporter. For fiscal year 2016, the Estée Lauder Companies achieved net sales of $11.26 billion, a 4% increase compared with $10.78 billion in the prior year. Net earnings for the year were $1.11 billion, a 2% increase compared with $1.09 billion last year, and diluted net earnings per common share rose 5% to $2.96, compared with $2.82 reported in the prior year. As of 2018, Estée Lauder Companies ranked 258 on the Fortune 500 list of the largest United States corporations by revenue.
The Estée Lauder Companies product goes through animal testing where required by law by its country government. The Chinese government requires testing on animals for many cosmetic products. This causes controversy for smaller brands that are “cruelty free” but were acquired by Estée Lauder. In 2016, the company acquired Becca Cosmetics, their first color cosmetic group acquisition since Smashbox in 2010. In November 2016, the company made its largest acquisition to date by acquiring California-based cosmetics company Too Faced for US$1.45 billion.
The company said it expects a fourth-quarter profit of between 38 cents and 48 cents per share, below estimates of 62 cents. The company’s shares, which touched a record high last week, fell nearly 7%. After more than 76 years in the skincare biz, it’s safe to say the pros in the laboratory at Estée Lauder know what they’re doing. And it’s also safe to say their cult-favorite Advanced Night Repair Serum is the brand’s pièce de résistance. Sophie Ross has covered beauty and fashion for more than five years.
In 1960, the company started its first international account in the London department store Harrods. When Lauder grew older, she agreed to help her uncle, Dr. John Schotz, with his business. Schotz was a chemist, and his company, New Way Laboratories, sold beauty products such as creams, lotions, rouge, and fragrances. He also taught her how to wash her face and do facial massages.
Currently, out of Lauder’s portfolio of 25 brands, the Estée Lauder brand is the most distributed in China in just over 130 cities. Yet there are over 600 cities where products are sold to online, meaning that as brick-and-mortar distribution expands, so, too, will the business. In terms of categories, Freda said makeup is coming back and that high-end and artisanal fragrances are “booming” around the world. E-commerce, now an established habit for older consumers as well as younger, will continue its acceleration, and men are starting to become more interested in self care, as well, leading to growth in the global grooming market.
“The family always understood the importance of culture in terms of what it represented in the aspiration of people,” said Demsey. “If you want to be in it to win it, you need to understand where the eyeballs are and where the influence is. Lauder has become adept at identifying the prevailing sociocultural forces that impact innovation, whether from a product development or marketing point of view, a tenet that goes back to the days of Estée Lauder herself. The most recent editions are Dr. Jart +, in which Lauder invested in 2015 and acquired in 2019 and Deciem, in which the company took a minority stake in 2017 and assumed majority ownership of this year. Both have become important contributors to the portfolio, Travis said, adding over $500 million in sales to date. Travel retail, one of the most buoyant segments pre-pandemic, is not expected to regain its global mojo until the middle of next year.
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Meanwhile, Donna Karan and DKNY fragrances will be licensed to Parisian fragrance giant Inter Parfums. In 1970 she was recognized by 575 business and financial editors as one of Ten Outstanding Women in Business. In 1984 she and seven others were chosen as Outstanding Mother of the Year.