Estée Lauder Companies (ELC) has appointed Stéphane de la Faverie as chief executive officer and president of the American beauty conglomerate.
Faverie, who currently serves as the executive group president, steers the company’s integrated planning and end-to-end business operations. The portfolio of brands he oversees includes #EstéeLauder, Aerin Beauty, #JoMalone London, Kilian and Deciem (The Ordinary and Niod), to name a few. He has held the position since 2020.
Faverie must shake up ELC’s strategy as the company’s latest earnings reflect a challenging landscape. Amid a prestige beauty net sales decline in China and a tempered performance in skincare and makeup (down 3% for 2024), ELC is re-navigating the success of its latest acquisition, Tom Ford Beauty.
There’s also the need for innovation and investment. “Estée Lauder needs a much clearer strategy in terms of appealing to consumers — including acquiring new ones across its various brands. At present, the group seems to be very muddled in terms of its brands, their position in the market and the distribution strategy. Overall, the company feels cumbersome,” says Neil Saunders, managing director and retail analyst at data research firm Globaldata.
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