Estée Lauder: Business Results 2019
The US cosmetics giant Estée Lauder has announced its financial results for the 2019 fiscal year. The Group reported highly satisfactory figures for the development of net sales and also delivered a strong balance sheet profit.
Impressive Figures for the 2019 Financial Year
By June 30, 2019, Estée Lauder had generated a total net revenue of USD 14.86 billion. This corresponds to an increase of nine per cent over the previous year, or eleven per cent when adjusted for currency fluctuations.
This strong development was driven in particular by growth in the Asia-Pacific markets. The skin care category proved to be the strongest segment by far, with global sales up 17 per cent. In addition, the company's online and duty-free divisions generated positive revenues.
Strategic Priorities in Recent Years
According to Estée Lauder, the main reason for this increase in growth was strategic change within the Group. Investments in data analysis have accelerated the innovation process and the development of digital marketing. At the same time, cost-saving measures within the company are said to have helped in achieving the particularly high profit.
Source: Estée Lauder, photo: Adobe Stock / vegefox.com