Estee Lauder Cos Inc said full-year sales would fall more than it had forecast, hurt by a stronger dollar and slowing growth in Hong Kong and China. However the company reported a better-than-expected rise in revenue in the second quarter.
Perfume developer Edouard Roschi tells BoF about his role taking perfumes from initial concept to final product, and how, along with Fabrice Penot, he founded and grew niche fragrance brand Le Labo, which was recently acquired by beauty behemoth Estée Lauder.
The luxury sector seems to have reached a turning point, having weathered the crises that beset it all year and buoyed by more benign currency trends.
BoF compiles the most important professional moves of the week.
The Savigny Luxury Index regained some of the ground it had lost over June and July, increasing by 2.2 percent in August on the back of positive results announcements. The MSCI World Index also gained 2.2 percent as the debate over US interest rate rise rumbles on.
Laney Crowell, executive director of online global communications at Estée Lauder, says take the time to build a foundation. Sometimes, the slower you go, the faster you will get there.
The Savigny Luxury Index continued its upward ascent gaining over two percent this month, driven by positive newsflow and reassured prospects for the Chinese economy.
The Savigny Luxury Index (“SLI”) leaped by 3.5 percent last month, as the feel-good factor returned to the luxury sector, underpinned by strong results announcements and positive market reaction to repositioning strategies.
NEW YORK, United States —The $27 billion cosmetics giant is on the verge of its longest stretch without a purchase in at least 19 years, according to data compiled by Bloomberg. The New York-based company hasn’t announced any acquisitions since Smashbox Beauty Cosmetics Inc. in May 2010.
NEW YORK, United States — Aerin and Jane Lauder, the granddaughters of Estee Lauder, the late founder of the beauty products company that bears her name, have become billionaires amid a bull market for cosmetics companies.
The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.