REUTERS NEXT-Estée Lauder driving growth with new brands, global focus
Estée Lauder is focusing on expanding its market share and sales by developing new brands, targeting younger consumers globally, and customizing products for diverse cultures. CEO Stéphane de La Faverie highlighted the importance of the emerging middle class and plans to balance growth across the Americas and emerging markets, while maintaining focus on China.
By Arriana McLymore, Jessica DiNapoli and Susan Heavey
NEW YORK, Dec 4 (Reuters) - Global cosmetics maker Estée Lauder Companies (EL.N) is focused on expanding market share and growing sales by developing new brands and focusing on younger consumers worldwide, and customizing products to meet consumers’ needs across cultures, its CEO said at the Reuters NEXT conference on Thursday.
Estée Lauder’s President & Chief Executive Officer Stéphane de La Faverie said the Tom Ford brand parent sees the emerging middle class as a key market between now and 2030. It is also looking to rebalance growth by embracing the Americas and emerging markets, though not at the expense of China, he added. View the live broadcast of the World Stage here and read full coverage here.
