For a company in the business of offering newness, the Estée Lauder Cos. Inc. ushered in a windfall of change in fiscal 2009, introducing a new management team and a reorganized company structure and culture.
The latter two efforts stem from the beauty firm’s four-year restructuring plan designed to jump-start profitable growth and extend its global reach. Charges related to the restructuring contributed to a loss in the fourth quarter, but the company remained profitable for the year.
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?"