Industry news

1.The Estee Lauder Companies announced fiscal 2024 third Quarter results for the year ended March 31, 2024 Net sales of $3.94 billion, an increase of 5% from $3.75 billion in the same period last year. Despite the return to growth, the group maintained its forecast for annual sales to fall between 2 and 3 per cent.

2."La Mer, Estee Lauder, Jo Malone London, LeLabo and The Ordinary led organic sales growth, driven by beloved hero products and sought-after innovations, "said Fabrizio Freda, president and CEO.

3. Strong double-digit net sales growth in Hong Kong, led by skincare, where the number of independent stores in the region more than doubled