'The Estée Lauder Companies To Establish Atelier In France To Further Accelerate Ambitions In Luxury And Prestige Fragrances'
Portfolio Pulse from Benzinga Newsdesk
Estée Lauder Companies (ELC) has announced plans to establish an Atelier in Paris, France, to accelerate its ambitions in luxury and prestige fragrances. The Atelier, set to open by the end of 2024, will support ELC's existing fragrance capabilities and help drive innovation, speed-to-market, and artisanal quality at scale. The company's fragrance business has seen nearly 40% growth in net sales since pre-pandemic fiscal year 2019 and has delivered 10 consecutive quarters of at least double-digit organic net sales growth through fiscal year-end 2023.
September 27, 2023 | 8:38 pm
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Estée Lauder's establishment of an Atelier in Paris is expected to boost its luxury and prestige fragrance business. The company's strong performance in this sector, with nearly 40% growth in net sales since pre-pandemic fiscal year 2019, suggests potential for further growth.
The establishment of the Atelier in Paris is a strategic move by Estée Lauder to capitalize on its successful fragrance business. The Atelier will support the company's existing fragrance capabilities and help drive innovation, speed-to-market, and artisanal quality at scale. This could potentially lead to increased sales and revenue, positively impacting the company's stock price.
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