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Estee Lauder’s Long-Time CEO Fabrizio Freda to Retire 

The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, US, October 21, 2019. (Reuters)
The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, US, October 21, 2019. (Reuters)
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Estee Lauder’s Long-Time CEO Fabrizio Freda to Retire 

The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, US, October 21, 2019. (Reuters)
The Estee Lauder section of the Nordstrom flagship store is seen during a media preview in New York, US, October 21, 2019. (Reuters)

Estee Lauder said on Monday its long-time CEO Fabrizio Freda had decided to retire from the company at the end of fiscal 2025.

Freda joined Estee in 2008 as president and chief operating officer and was later named the MAC lipstick maker's CEO.

Estee said the board was considering internal and external candidates as part of its CEO succession planning.

Until a successor is appointed, Freda will continue to lead and oversee the company's strategic, financial and investment priorities, Estee said.

Estee has trimmed its global workforce and is trying to shore up its margins as part of a turnaround plan.

The company's results are due later on Monday.

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Fashion

PUMA Opens New Creative Hub to Foster Excellence in Design

Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand. AP
Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand. AP
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PUMA Opens New Creative Hub to Foster Excellence in Design

Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand. AP
Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand. AP

Sports company PUMA has opened Studio48, a new creative hub at its headquarters in Herzogenaurach, Germany, where its designers and creatives can come together to freely develop new ideas and create concepts for new performance and Sportstyle products as well as campaigns.

Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand.

“With the new Studio48 we are creating a significant tool to enhance the excellence of our designs and elevate the brand,” said PUMA’s Vice President Creative Direction & Innovation Heiko Desens. “While many of our products are created digitally, Studio48 will be a space for a different kind of creativity, where our designers from different departments can brainstorm together, exchange best practices, experience new materials and touch and feel the products they want to make.”

While Studio48 can be used by the company’s designers and creatives all year round, the space will also play an important part when hosting external partners or bringing PUMA’s global design community together for workshops and events.

As part of the opening event in December, PUMA hosted a workshop at Studio48 by US-based upcycler Nicole McLaughlin, who shared her vision on circularity. The event was joined by PUMA designers across all product categories from several of the company’s worldwide locations.