Asia helps boost Estee Lauder sales growth
Up from $3.21 billion from the same quarter the previous year, the beauty brand also credits the improvement to growth in online sales globally as well as travel retail.
“We continued our strong momentum in our second quarter and generated stellar results,” says president/CEO Fabrizio Freda. “In constant currency, our sales grew 14 per cent.
“We delivered double-digit sales gains across most product categories and many brands, including Estee Lauder, luxury brands and most mid-sized brands.”
Tom Ford and the Estee Lauder brand were significant contributors to the company’s growth. Eye shadow and lip colour sub-categories drove Tom Ford sales, while the Estee Lauder brand sales were supported by its Double Wear foundation and Pure Color lip collections.
The Tom Ford brand also saw success with its Private Blend fragrances and other scent-related product launches, including the limited-edition fragrance Fucking Fabulous.
Estee’s acquisition of popular lower-end brands such as Becca and Too Faced also supported its growth with incremental sales.
This story first appeared on sister site, Inside Retail Asia.