Source: CNBC
Summary
Estee Lauder is focusing on fragrance as part of its turnaround plan, reported CNBC. The beauty company is doubling down on the category, which has seen growth in recent years. Estee Lauder’s fragrance sales rose 11% in the last quarter, according to the company. The brand is also investing in digital marketing and e-commerce to boost sales. As part of the plan, Estee Lauder will also cut costs and reduce its workforce.
Our Reading
The trend returns with a new name. Estee Lauder’s focus on fragrance is reminiscent of the 1980s and 1990s, when the company’s fragrances were a staple in many department stores. The brand’s decision to double down on fragrance is a classic case of “back to the future.” Estee Lauder is reviving a successful formula from its past, with a modern twist. The company’s fragrance sales have been growing, and it’s no surprise that it’s choosing to invest in this area.
Author: Evan Null
