Estee Lauder news and archive

Estée Lauder names Akhil Shrivastava as chief financial officer

The Estée Lauder Companies (ELC) has appointed Akhil Shrivastava a executive vice president and chief financial officer, succeeding Tracey T. Travis, whose retirement was announced on July 11, 2024. Joining on November 1, 2024, Shrivastava will report to William P. Lauder, executive chairman, and Fabrizio Freda, president and chief executive...

Fashion |Opinion Featured

The founder's dilemma: evolving luxury brands beyond their creators

The luxury fashion landscape is in constant flux, with the departure of founding designers presenting a formidable challenge, particularly for younger brands. As Tom Ford navigates a pivotal transition following Peter Hawkings' brief tenure as creative director, it joins the ranks of houses like Helmut Lang, Martin Margiela and Jil Sander in...

Fashion

Tom Ford creative director Peter Hawkings departs after brief tenure

In a surprising turn of events, Tom Ford's creative leadership is once again in flux as Peter Hawkings, the brand's first appointed creative director post-acquisition, is set to exit after a mere year in the role. This development comes less than two years after Estée Lauder's high-profile acquisition of the luxury beauty and fashion house....

People

Estée Lauder CFO Tracey Travis to retire next year

The Estée Lauder Companies has announced that Tracey Travis, executive vice president and chief financial officer, will retire, effective June 30, 2025, after more than twelve years of service at the company. “Tracey has been an invaluable business partner and a trusted advisor to me, our executives and board of directors, as well as a mentor...

Business

Estée Lauder completes the acquisition of DECIEM

The Estée Lauder Companies (ELC) has completed its acquisition of the Canadian multi-brand company DECIEM Beauty Group. Estée Lauder first invested in DECIEM in 2017, increased its stake to become majority owner in 2021, and recently exercised its option to purchase the remaining interests after a three-year period on May 31, 2024 using cash on...

Fashion

L'Oreal and Estée Lauder perfumes linked to child labour, says report

A BBC investigation has uncovered the use of child labour in the jasmine supply chains of two major luxury perfume brands, Lancôme and Aerin Beauty. The investigation revealed that children are picking jasmine flowers in Egypt, which supplies about half of the world’s jasmine. Despite claims of zero tolerance for child labour from their parent...

People

Estée Lauder names Shane Wolf as president global brands Aveda, Bumble and bumble

The Estée Lauder Companies has appointed Shane Wolf as president, global brands, Aveda and Bumble and Bumble, effective July 1, 2024. Wolf, the company said, will report to Jane Hertzmark Hudis, executive group president, The Estée Lauder Companies, and join the company’s executive leadership team. The company added that with more than 25...

BusinessFeatured

Estée Lauder delivers Q3 sales and earnings growth

For the third quarter, The Estée Lauder Companies reported net sales of 3.94 billion dollars, an increase of 5 percent with organic net sales increase of 6 percent due to double-digit growth in Europe, the Middle East & Africa (EMEA), driven by stronger sales in Asia travel retail. The company’s third quarter net earnings rose to 330 million...

Business

Puig prepares to go public, setting share price at 24,50 euros

Spanish fragrance and fashion conglomerate Puig is poised to debut on the stock market this Friday, marking one of the most highly anticipated IPOs of the quarter. The company, which owns prominent brands like Dries Van Noten, Byredo, and Charlotte Tilbury, seeks to raise 2.6 billion euros, with a share price guidance of 24.50 euros per share,...

PeopleFeatured

Frédéric Malle is exiting his fragrance brand Editions de Parfums

Fragrance purveyor Frédéric Malle is exiting his brand Editions de Parfums Frédéric Malle by the end of June 2024. A pioneer of niche perfumes, Mr. Malle began his brand a quarter of a century ago, collaborating with designers such as Dries Van Noten and Acne to create sensory art, referring to perfume as “the mirror of your soul.” Not a...

Business |Beauty

Kiki secures funding from Estée Lauder's investment arm NIV and A16z Crypto

Kiki, the community commerce beauty company, has raised 7 million US dollars from investors, including A16z Crypto and The Estée Lauder Companies' investment arm New Incubation Ventures (NIV). Other initial funding round investors included consumer-tech funds Double Down, 2Punks Capital and Advancit, digital communities RedDao and OrangeDao, and...

BusinessPress Release

Everything you need to know about Estée Lauder: The legacy of a philanthropist

The history of Estée Lauder and its company, Estée Lauder Companies, has profoundly shaped the beauty care world – from its humble beginnings in a New York backyard to its ascension as a global icon in the cosmetics industry. Today, boasting over 30 brands in its portfolio, the company reflects on a rich heritage that encapsulates a captivating...