The Estee Lauder Cos. Inc., which more than doubled profits in the third quarter, aims to encourage consumers to return to luxury with an aggressive increase in marketing spending in the fourth quarter.
The bolstered marketing efforts come on the heels of a solid quarter. In the three months ended March 31, the company reported profits of $57.5 million, or 28 cents a share, compared with $27.2 million, or 14 cents a share a year ago.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"