7 hours ago
3
The Estée Lauder Companies Inc. reported a 10% decline in net sales during its third quarter of fiscal year 2025 earnings call on Thursday. The beauty conglomerate stated it will lay off up to 7,000 employees amid a larger profit recovery and growth plan. In February, after reporting a 6% drop in net sales during its second-quarter earnings call, the company unveiled a “Beauty Reimagined” plan to counter declining sales.
“Though Beauty Reimagined has only deepened the executive team, our board of directors and the organization remain committed to restoring sustainable sales growth and achieving a solid double-digit adjusted operating margin over the next few years,” said Estée Lauder CEO Stéphane de La Faverie.
In addition to a reduction in force, de La Faverie highlighted initiatives to reach consumers with new products. MAC brought back classic ’90s lip shades with its Nudes collection in January, and de La Faverie stated Jo Malone will launch a body spray version of its Cypress & Grapevine scent to capture the body mist boom. The company will also open 10 new stores globally, primarily led by Le Labo stores in China and the U.S.
Continue reading this article on glossy.co. Sign up for Glossy newsletters to get the latest on the business of beauty, fashion and pop culture.
English (US) ·