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Tag: Lauder

Estée Lauder cuts revenue outlook as challenges in China persist

May 2, 2024 No Comments Business , , , , , , ,

By Bloomberg Published May 1, 2024 Estée Lauder Cos. lowered its revenue outlook for the remainder of the year as the company faces lackluster demand for its high-end products in China. Estée Lauder The company noted ongoing weakness in prestige beauty in mainland China in the most recent quarter, “reflecting subdued consumer confidence and softness [...]read moreEstée Lauder cuts revenue outlook as challenges in China persist

Estée Lauder invests in community beauty start-up Kiki World

April 12, 2024 No Comments Business , , , , , , ,

Translated by Cassidy STEPHENS Published Apr 12, 2024 The American cosmetics group Estée Lauder, via its New Incubation Ventures (NIV) fund, has participated alongside several tech players in the first round of financing for Kiki World, a Californian beauty start-up. The total value of the deal is $7 million (€6.5 million). Kiki World – DR [...]read moreEstée Lauder invests in community beauty start-up Kiki World

Estée Lauder investment arm NIV invests in Kiki

April 10, 2024 No Comments Business , , , , , ,

Community beauty firm Kiki announced on Tuesday its initial funding round investors, including A16z crypto and The Estée Lauder Companies’ New Incubation Ventures. Kiki Other round investors included consumer-tech funds Double Down, 2Punks Capital and Advancit, digital communities RedDao and OrangeDao, and the digital creator GMoney. Financial terms of the investment were not disclosed. The investment from [...]read moreEstée Lauder investment arm NIV invests in Kiki

Estée Lauder CEO ‘not going anywhere’ despite 40% drop in shares

February 6, 2024 No Comments Business , , , ,

By Bloomberg Published Feb 6, 2024 The CEO of Estée Lauder Cos. defended his tenure at the helm of the beauty company and said his turnaround plan is already on the way to recovering lost profitability and generating more buzz about its brands. “I’m not going anywhere,” CEO Fabrizio Freda said in an interview with [...]read moreEstée Lauder CEO ‘not going anywhere’ despite 40% drop in shares

Estée Lauder surges on plan to cut up to 5% of workforce

February 5, 2024 No Comments Business , , , , ,

By Bloomberg Published Feb 5, 2024 Estée Lauder Cos. said it’s cutting as many as 3,000 positions as part of a restructuring plan to put one of the world’s largest beauty companies back on track. Facebook: Estée Lauder The shares jumped 15% in premarket trading at 8:08 a.m. in New York. The owner of the [...]read moreEstée Lauder surges on plan to cut up to 5% of workforce

Estee Lauder slashes annual profit forecast, to cut jobs

February 5, 2024 No Comments Business , , , , , , ,

By Reuters API Translated by Cassidy STEPHENS Published Feb 5, 2024 MAC lipstick maker Estee Lauder slashed its annual profit forecast on Monday and announced a restructuring program aimed at cutting about 3% to 5% of its workforce to rein in costs. The company said it would start the program in the third quarter of [...]read moreEstee Lauder slashes annual profit forecast, to cut jobs

UK fund manager Terry Smith dumps Estée Lauder in favor of rival L’Oréal

January 15, 2024 No Comments Business , , , , , , , , ,

By Bloomberg Published Jan 15, 2024 UK fund manager Terry Smith has sold his stake in Estée Lauder Cos. due to its mishandling of China’s reopening while retaining a holding in beauty rival L’Oréal SA. Estée Lauder Estée Lauder, which owns beauty brands like Clinique and Aveda, missed out on much of the post-lockdown boost [...]read moreUK fund manager Terry Smith dumps Estée Lauder in favor of rival L’Oréal

Estee Lauder beats biometric class action over virtual ‘try-on’ tool

January 13, 2024 No Comments Beauty , , , , , , , ,

​Estee Lauder and several of its well-known cosmetics brands on Wednesday dodged a proposed class action claiming its virtual “try-on” tool violates Illinois’ biometric privacy law, after a judge said the plaintiffs provided no proof that the company could connect facial scans to customers’ identities. Estée Lauder U.S. District Judge Lindsay Jenkins in Chicago granted Estee Lauder [...]read moreEstee Lauder beats biometric class action over virtual ‘try-on’ tool

Estée Lauder puts the science of longevity at the heart of its strategy

January 9, 2024 No Comments Beauty , , , , ,

Translated by Cassidy STEPHENS Published Jan 2, 2024 According to INSEE, by 2023 there will be 30,000 centenarians in France, thirty times more than in 1970. Scientists, sociologists and even psychologists are looking at the issues raised by longer life expectancy, but above all at how to live better for longer. And it’s now the [...]read moreEstée Lauder puts the science of longevity at the heart of its strategy