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.
Exclusive: @isabelmarant and @lorealmakeup have teamed up to create a capsule makeup collection. "She is rather natural in the day but doesn't have time to go back home before going out [in the evening] and redo her entire beauty look," said Marant on the 5 products included in the collection, which will launching in September. Read @jenniferbethweil's interview with the designer on WWD.com. #wwdnews #wwdbeauty
After 17 years, Tomas Maier is leaving @bottegaveneta. “I am deeply grateful to him and I personally thank him for the work he accomplished, and for the exceptional success he helped to achieve,” said François-Henri Pinault, head of parent company @kering_official. Head to WWD.com for more on his departure. #wwdnews #wwdfashion (📷: Davide Maestri)
@shaymitchell is no stranger to teaming up with beauty brands, but she’s made her latest partnership official: She’s signed with @buxomcosmetics as global creative brand ambassador, WWD learned exclusively. Mitchell and Buxom will collaborate on campaign development, social media strategy and content and new product and shade development. Read more on WWD.com. #wwdbeauty (📷: @clint_spaulding)
Today we’re at the WWD Retail 20/20 Forum where industry leaders will be talking about the future of shopping for fashion, footwear and beauty. Tune in on Instagram Live at 9 am and 3:30 pm to hear from two of our speakers –– @therealreal’s Rati Levesque and @bandier’s Stephen Ippolito. #wwdsummits (📷: @elizaflorendo)
Seen last night at @coach’s launch party for “Life Coach,” an interactive pop-up in Soho: @joansmalls. Open now, visitors of the pop-up can engage in themes of “creativity and self-expression,” through tarot, carnival games, live performances and art. See the rest of the party pics on WWD.com. #wwdeye (📷: @vnina)
“We figure there’s enough cynicism to go around the world right now let’s go out there and be ourselves, let’s be enthusiastic, let’s have positive energy, which is something I think a lot of people really want and need right now,” said musician @joshgroban ahead of hosting the Tony Awards with @sarabareilles. Read @leighn’s interview with Groban on how he picked his look for the night, his next record and more on WWD.com. #wwdeye #tonyawards (📷: @vnina)
“Rock as an attitude and not a uniform. Street as a style and not just clothing. Sportswear as the new normality,” @paul_surridge said of his first @roberto_cavalli men’s wear collection, previewed here. The British designer joined the brand as the creative director in May 2017, and is gearing up to unveil his debut for the label with a runway show at the Florence Charterhouse on June 13 at #PittiUomo. Head to WWD.com to read more about his collection and see more sneak peek photos. #wwdfashion (📷: @simonelezzi)