The Estée Lauder Cos. is sticking with its department store partners in the U.S. and abroad, executives said at the company's shareholder meeting Tuesday."Department stores' online sales are growing nicely," Lauder chief executive officer Fabrizio Freda said, adding that while foot traffic is still slow in the U.S. department stores, department stores in other regions — like Selfridges — still do very well. Plus, Lauder's recent move further into the specialty retail space is making up for softness in U.S. department stores, he said.Freda and other executives, including Lauder chief financial officer Tracey Travis and executive chairman William Lauder, addressed the company's shareholders from the Essex House in New York, going over the company's latest financials and pivot toward areas of growth.For its first fiscal quarter, Lauder reported a 45 percent year-over-year net earnings increase and 14 percent net sales jump for the first fiscal quarter of 2018. Net sales were up to $3.27 billion, driven in part by Lauder’s acquisitions of Too Faced and Becca, which it bought in 2016. Net earnings were $427 million, and diluted net earnings per common share increased 44 percent to $1.14."One of the keys to our success was pivoting our business to high-growth opportunities," Freda said.He also outlined the company's growth in e-commerce (which is now about 11 percent of sales), and travel retail, which Freda said he expected to make up about 20 percent of prestige beauty sales within the next decade. Lauder is also planning to open 100 additional freestanding brand doors in fiscal 2018, he said.The team answered a wide range of shareholder questions — from a seating shortage to Bitcoin to ingredients — toward the end of the meeting. Lauder clarified that while it hasn't used parabens specifically for a while, it does use other preservatives, but pays specific attention to ingredient regulations."We are trying to create the very best, healthiest and safest products that are also effective for all of our customers around the world," Lauder said.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews