Estée Lauder News

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Estee Lauder said it’s expanding its restructuring plan to include job cuts anywhere from 5,800 to 7,000 by fiscal 2026 as the global beauty company tries to boost sales and profits

Nykaa Q4 Results: FSN E-Commerce Ventures, which operates beauty and fashion retailer Nykaa, announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Wednesday reporting a massive four-fold jump in the quarterly net profit attributable to shareholders on customer retention over heavy discounts. The net profit zoomed to 187 per cent to ₹6.9 crore in the fourth quarter of FY24, compared to ₹2.4 crore in the year-ago period.The Falguni Nayar-led company's revenue from operations in the March quarter rose 28 per cent to ₹1,668 crore, compared to ₹1,302 crore reported in the corresponding period last year.

Sabyasachi Mukherjee, and the milestones keep adding up. From March 7-16 this year, coinciding with the Oscars weekend, Mukherjee presented an exclusive showcase of jewelry, clothing and other accessories at Saks Fifth Avenue’s new Beverly Hills flagship. March also marked the UK launch of Estee Lauder and the designer’s limited edition lipstick collection which will be exclusively available at Selfridges. In 2023, Mukherjee launched his largest flagship yet in Mumbai and his first exclusive jewellery boutique in India at Taj Krishna in Hyderabad.

The U.S. economy is humming and there are hundreds of thousands of jobs being added every month

Good Glamm Group and retail chain Shoppers Stop have inked a partnership aimed at expanding their omni-channel retail presence, the companies said in a statement. Both companies are in talks for other similar collaborations, Good Glamm Group said. Sukhleen Aneja, chief executive officer at Good Brands Co, owned by Good Glamm Group, said: “We look forward to expanding this collaboration subsequently to other products to tap into a broad consumer base.” She added the collaboration, once expanded, is expected to bridge the gap between online and offline retail and bring digital shopping experiences into physical stores. The Warburg Pincus, Prosus Ventures and L’Occitane backed Good Glamm group currently has 50,000 offline points of sale, according to the statement. Shoppers Stop, on the other hand, has ongoing retail partnerships with global beauty brands such as M.A.C, Estee Lauder, Bobbi Brown and Clinique, among others. Biju Kassim, chief executive, beauty, at Shoppers Stop said the partnership would allow the retailer to diversify its distribution portfolio. The statement said the partnership would give Good Glamm leverage into Shoppers Stop's offline presence, while the retail chain would gain a foothold into Good Glamm's online reach in the content-creator-commerce-community. The synergies would lead to product launches, events and in-store activations at Shoppers Stop outlets across India, according to the statement. The partnership’s first line is under MyGlamm, a flagship brand of The Good Glamm Group, and is a makeup collection called Pout, the statement added.

Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed today: upgrades at Boeing, Affirm, and MercadoLibre , and a Buy initiation at Estee Lauder.

By Ananya Mariam Rajesh and Aatrayee Chatterjee

Investing.com — U.S. futures retreated Wednesday, as investors started the month cautiously ahead of the conclusion of the latest two-day policy meeting of the U.S. Federal Reserve.

By Juveria Tabassum and Ananya Mariam Rajesh

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