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Estee Lauder Names Stephane de La Faverie as CEO

An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)
An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)
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Estee Lauder Names Stephane de La Faverie as CEO

An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)
An Estee Lauder cosmetics counter is seen in Los Angeles, California, US, August 19, 2019. (Reuters)

Cosmetics giant Estee Lauder on Wednesday named Stephane de La Faverie as its new president and CEO, effective Jan. 1, 2025.

La Faverie is currently the executive group president at the company and oversees high-end fragrance brands such as Jo Malone London, Frederic Malle, Le Labo and Kilian Paris.

In August, the company said CEO Fabrizio Freda was retiring next year and would remain as an adviser to his successor in fiscal year 2026.

Estee Lauder is set to report its quarterly earnings on Thursday.

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Fashion

Poland's Largest Fashion Retailer LPP Optimistic on Third-quarter Sales

People walk outside a Polish fashion retailer LPP brand Reserved shop in Warsaw, Poland, September 4, 2020. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
People walk outside a Polish fashion retailer LPP brand Reserved shop in Warsaw, Poland, September 4, 2020. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
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Poland's Largest Fashion Retailer LPP Optimistic on Third-quarter Sales

People walk outside a Polish fashion retailer LPP brand Reserved shop in Warsaw, Poland, September 4, 2020. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
People walk outside a Polish fashion retailer LPP brand Reserved shop in Warsaw, Poland, September 4, 2020. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights

Poland's largest fashion retailer LPP said its revenue could increase by more than 20% year-on-year in the third quarter, in an upbeat outlook that coincided with unexpectedly weak official data on the country's retail sales.

Polish retail sales fell 3.0% year on year in September, statistics office data showed on Tuesday, which analysts attributed to slowing real income growth and last month's floods knocking consumer optimism, Reuters reported.

"Yesterday's data was actually a bit surprising... because what we see in August, September and also after most of October is in a completely different direction," LPP Financial Director Marcin Bojko told journalists.

LPP's third quarter runs from August to October.

Bojko said the company was also optimistic about the fourth quarter.

LPP's shares were up 1.8% at 1431 GMT.

In September, LPP confirmed its full-year revenue target of 20-21 billion zlotys.