The Estée Lauder Cos. Inc. is increasingly taking a global view in 2014, and has its eyes trained on emerging markets, particularly China.
Lauder president and chief executive officer Fabrizio Freda acknowledged a slowdown across China’s tier-one cities, but said the country’s tier-two, -three and -four cities are gaining at a healthy clip as the middle class grows. And those cities are precisely where Lauder plans to expand its distribution and e-commerce presence. His upbeat outlook contrasted sharply with the recent action of Revlon, which was recently forced to exit the market. In addition, L’Oréal withdrew its Garnier brand.
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