The Estée Lauder Companies Inc. is a leading global manufacturer, marketer, and seller of prestige beauty products, including skin care, makeup, fragrance, and hair care, distributed in approximately 150 countries and territories . The company operates under well-known brand names such as Estée Lauder, Clinique, M·A·C, Bobbi Brown, La Mer, Aveda, Jo Malone London, and others . Leveraging consumer analytics and insights, the company drives innovation and maintains a broad, inclusive range of products to compete effectively in the prestige beauty market .
- Skin Care - Develops and markets a wide range of skin care products, with significant contributions from brands like Estée Lauder, Clinique, and Dr.Jart+ .
- Makeup - Offers a variety of makeup products, with key offerings from brands such as M·A·C and Estée Lauder .
- Fragrance - Produces and sells fragrances, with notable contributions from Le Labo and Jo Malone London .
- Hair Care - Provides hair care products, primarily through the Aveda brand .
- Other Products - Includes a diverse range of additional beauty products beyond the main categories .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Fabrizio Freda ExecutiveBoard | President and CEO (until Dec 31, 2024); Special Advisor (Jan 1, 2025 - Jun 30, 2026) | Board Member at BlackRock, Inc. | Joined EL in 2008 as COO, became CEO in 2009. Known for driving global growth, innovation, and R&D initiatives. | |
William P. Lauder ExecutiveBoard | Executive Chairman (until Mar 1, 2025); Chair of the Board (post-retirement) | Chair of Fresh Air Fund, Co-Chair of Breast Cancer Research Foundation, Board Member at 92NY and Partnership for NYC | Joined EL in 1986, held multiple leadership roles including CEO. Known for expertise in luxury branding and global business strategy. | |
Stéphan de La Faverie Executive | President and CEO (effective Jan 1, 2025) | None reported | Joined EL in 2011. Held multiple leadership roles, including Executive Group President and Global Brand President for Estée Lauder and AERIN Beauty. | |
Tracey T. Travis Executive | EVP and CFO (until Oct 31, 2024); Senior Advisor (Nov 1, 2024 - Jun 30, 2025) | None reported | Joined EL in 2012 as CFO. Played a key role in financial discipline and global growth strategy. | |
Angela Wei Dong Board | Director | Global VP and GM of Greater China at NIKE, Inc.; Board Member at Barry Callebaut AG | Joined EL's Board in 2022. Known for expertise in consumer branding and marketing, particularly in the Chinese market. | |
Arturo Nuñez Board | Director | Founder and CEO of AIE Creative; Board Member at Abercrombie & Fitch Co. | Joined EL's Board in 2022. Former marketing leader at Apple and Nike, with expertise in global branding and digital innovation. | |
Barry S. Sternlicht Board | Director | Chairman and CEO of Starwood Capital Group; Chairman of Starwood Property Trust, Inc. | Joined EL's Board in 2004. Known for expertise in real estate investment and global business strategy. | |
Charlene Barshefsky Board | Director | Chair of Parkside Global Advisors; Board Member at Stagwell Inc.; Trustee at Howard Hughes Medical Institute | Joined EL's Board in 2001. Former U.S. Trade Representative with expertise in international trade and policy. | |
Eric Zinterhofer Board | Director | Founding Partner of Searchlight Capital Partners; Board Member at Charter Communications and Liberty Latin America | Joined EL's Board in 2025. Known for expertise in private equity and telecommunications. | |
Jennifer Hyman Board | Director | CEO and Chair of Rent the Runway, Inc.; Board Member at Zalando SE | Joined EL's Board in 2018. Known for expertise in disruptive technology and consumer goods. | |
Jennifer Tejada Board | Director | CEO and Chair of PagerDuty, Inc. | Joined EL's Board in 2018. Known for expertise in digital operations management and technology innovation. | |
Lynn Forester de Rothschild Board | Director | CEO and Chair of E.L. Rothschild LLC; Founder and Chair of Council for Inclusive Capitalism | Joined EL's Board in 2000. Known for expertise in global business, investment, and inclusive capitalism. | |
Paul J. Fribourg Board | Director | Chairman and CEO of Continental Grain Company; Board Member at Loews Corporation | Joined EL's Board in 2006. Known for expertise in agribusiness and investment. |
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Given the ongoing declines in the prestige beauty industry in China and Asia travel retail, and your expectation for continued softness in fiscal 2025, can you elaborate on the specific actions you are taking to regain momentum in these markets and how confident you are in the timing of their recovery?
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With the announcement of your retirement at the end of the fiscal year and the search for your successor underway, how are you ensuring that the leadership transition will not disrupt the execution of your strategic reset and the Profit Recovery and Growth Plan?
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You mentioned the need to accelerate margin expansion despite facing sales declines and fixed expense deleverage; can you provide more details on how you plan to achieve this without compromising necessary investments in consumer-facing activities, especially in highly competitive markets like North America and China?
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Given the underperformance in the skin care category and the increased competition, what are the key initiatives you are implementing to reignite growth in skin care, and how will these initiatives differentiate you from competitors who are likely not pulling back investments?
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Regarding the execution of your strategy in some key areas of the business that has not met expectations, can you identify specific execution gaps and detail how the PRGP and organizational changes will address these issues to improve performance in fiscal 2025?
Research analysts who have asked questions during ESTEE LAUDER COMPANIES earnings calls.
Dara Mohsenian
Morgan Stanley
7 questions for EL
Lauren Lieberman
Barclays
7 questions for EL
Bonnie Herzog
Goldman Sachs
5 questions for EL
Bryan Spillane
Bank of America
4 questions for EL
Filippo Falorni
Citigroup Inc.
4 questions for EL
Peter Grom
UBS Group
3 questions for EL
Christopher Michael Carey
Wells Fargo Securities
2 questions for EL
Olivia Tong Cheang
Raymond James Financial, Inc.
2 questions for EL
Peter K. Grom
UBS Investment Bank
2 questions for EL
Rupesh Parikh
Oppenheimer & Co. Inc.
2 questions for EL
Stephen Robert Powers
Deutsche Bank
2 questions for EL
Stephen Robert R. Powers
Deutsche Bank AG
2 questions for EL
Andrea Teixeira
JPMorgan Chase & Co.
1 question for EL
Ashley Wallace
Bank of America Merrill Lynch
1 question for EL
Christopher Carey
Wells Fargo & Company
1 question for EL
Dana Telsey
Telsey Advisory Group
1 question for EL
Oliver Chen
TD Cowen
1 question for EL
Stephen Powers
Deutsche Bank
1 question for EL
Steve Powers
Deutsche Bank
1 question for EL
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
L'Oreal S.A. | Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. |
Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. | |
Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. | |
LVMH Moët Hennessey Louis Vuitton | Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. |
Chanel S.A. | Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. |
Beiersdorf | Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. |
Shiseido Company, Ltd. | Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. |
Natura & Co. | Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. |
Some of our competitors are large, well-known, multinational manufacturers and marketers of skin care, makeup, fragrance and hair care products, most of which market and sell their products under multiple brand names. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Largest Customer (China travel retail) | Primarily sells Estée Lauder products through the China travel retail channel | Travel Retail (China) | $206 million (12% of accounts receivable) as of June 30, 2024 ; previously $49 million (3%) as of June 30, 2023. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
DECIEM Beauty Group Inc. | 2024 | The Estée Lauder Companies Inc. (ELC) completed the acquisition of DECIEM on May 31, 2024, exercising its option to purchase the remaining 24% interest for $859 million as part of a total investment of approximately $1.7 billion over several tranches. This strategic move strengthens ELC’s portfolio with DECIEM’s acclaimed brands (“The Ordinary” and NIOD), aligning with its goal to expand its skincare offerings and global consumer reach. |
TOM FORD brand | 2023 | ELC finalized the acquisition of the TOM FORD brand on April 28, 2023 for a total cost of $2,578 million, which included upfront and deferred payments as well as transaction-related costs. This deal, accounting for the key trademark intangible asset with an indefinite life, is aimed at reinforcing the TOM FORD BEAUTY brand and generating new licensing revenue while eliminating future license royalty payments. |
Recent press releases and 8-K filings for EL.
- 11,301,323 Class A common shares (par value $0.01) to be sold by existing shareholders; Estée Lauder Companies will not sell shares or receive proceeds.
- Proceeds from the sale will go entirely to the selling shareholders, including coverage of certain estate‐related expenses for Leonard A. Lauder.
- After the offering, the Lauder family is expected to hold 82% of the company’s voting power, directly or indirectly.
- The shares are being registered on a Form S-3 shelf and J.P. Morgan Securities LLC is the sole bookrunner for the transaction.
- Estée Lauder Companies announces that selling shareholder Leonard A. Lauder will sell 11,301,323 Class A common shares, with all proceeds to the seller and no shares sold by the company.
- Upon completion, the Lauder family is expected to beneficially own approximately 82% of the company’s outstanding common stock.
- The offering is underwritten solely by J.P. Morgan Securities LLC, with the underwriters and LAL Family Partners, L.P. agreeing to a 90-day lock-up period.
- Shares are registered under an effective S-3 shelf registration statement; prospectuses are available free on the SEC website or via J.P. Morgan Securities LLC.
- A selling shareholder affiliated with Leonard A. Lauder’s grandchild has registered 11,301,323 Class A common shares for a secondary public offering; the company will not issue new shares or receive any proceeds.
- Proceeds from the sale will go exclusively to the selling shareholder to fund estate settlement, taxes, selling expenses and management fees.
- Based on the October 23, 2025 record date, the Lauder family will retain 82% of voting power following the offering; the selling shareholder and LAL Family Partners, L.P. are subject to a 90-day lock-up agreement.
- The company filed a Form S-3 registration statement with the SEC, with J.P. Morgan Securities LLC acting as sole underwriter.
- Trusts related to a descendant of Leonard A. Lauder plan to sell 11,301,323 Class A common shares in a registered secondary offering; the company will not receive any proceeds.
- Selling shareholders will use proceeds to satisfy estate settlement obligations, including estate taxes, debts, and administrative expenses.
- After the offering, the Lauder family will directly or indirectly retain 82% of the voting power of outstanding common shares.
- J.P. Morgan Securities LLC is the sole underwriter, and selling shareholders are subject to a 90-day lock-up agreement.
- 11,301,323 Class A shares to be sold by trusts affiliated with Leonard A. Lauder’s descendants in a planned public offering.
- The company will not sell any shares and will not receive proceeds; all proceeds go to the selling shareholders.
- Proceeds will be used to settle the Lauder estate’s obligations, including taxes, debts and administrative expenses.
- After the offering, the Lauder family is expected to hold 82% of voting power based on shares outstanding as of October 23, 2025.
- J.P. Morgan Securities LLC serves as the sole book-running manager for the transaction.
- 11,301,323 Category A ordinary shares to be sold by trusts affiliated with Leonard A. Lauder’s descendants in a registered public offering; the company will not sell shares or receive proceeds.
- Selling shareholders to receive all proceeds to fund estate obligations, including taxes, debts and administration costs.
- Post-offering, Lauder family expected to retain 82 % of voting power based on shares outstanding as of October 23, 2025.
- J.P. Morgan Securities LLC named as sole underwriter for the transaction.
- On November 4, 2025, Estée Lauder entered into an underwriting agreement with J.P. Morgan Securities LLC for the sale of 11,301,323 shares of Class A common stock at $89.70 per share by existing Lauder family trusts.
- The Company did not receive any proceeds from the transaction; all proceeds were paid to the selling stockholders.
- The offering was made pursuant to a prospectus supplement dated November 4, 2025 under Estée Lauder’s Form S-3 registration (File No. 333-291255).
- Concurrently, the Company issued 11,034,685 shares of Class A common stock upon conversion of an equal number of Class B shares held by trusts affiliated with Leonard A. Lauder’s descendants, exempt from registration under Section 3(a)(9) of the Securities Act.
- Offer price set at $90 per Class A share by trusts affiliated with Leonard A. Lauder’s descendants.
- Company will sell no shares and receive no proceeds; selling shareholders intend to use the proceeds for estate obligations (taxes, debts, administration).
- Closing expected Nov. 6, 2025, subject to customary conditions; post-closing, the Lauder family will hold 82% of the voting power.
- J.P. Morgan Securities LLC appointed as sole underwriter; selling shareholders and LAL Family Partners bound by a 90-day lock-up.
- Offering registered via Form S-3 with the SEC; related prospectus and supplements available on sec.gov.
- The Estée Lauder Companies announced the pricing of a secondary offering of Class A common shares by trusts affiliated with Leonard A. Lauder’s descendants at $90 per share for the public.
- Estée Lauder will not receive any proceeds from the offering; the selling shareholders will use the proceeds for estate settlement obligations, including inheritance taxes, debts, and administration costs.
- Upon closing, expected on November 6, 2025, Lauder family members will retain over 82% of voting power in outstanding common shares.
- J.P. Morgan Securities LLC is acting as sole bookrunner, and the company has filed a shelf registration on Form S-3 with the SEC.
- Estée Lauder Companies Inc. (NYSE: EL) priced the registered secondary offering of Class A common shares by selling shareholders at $90 per share, with no shares sold by the company and no proceeds to the company.
- The offering is expected to close on November 6, 2025, subject to customary closing conditions; proceeds will go to trusts of Leonard A. Lauder’s descendants to settle estate obligations.
- After the offering, Lauder family members will hold 82% of the voting power of the company’s common shares based on shares outstanding as of October 23, 2025.
- J.P. Morgan Securities LLC is acting as sole underwriter, and the selling shareholders and LAL Family Partners, L.P. will be subject to a 90-day lock-up with the underwriter.