M.A.C Brand Owner Estee Lauder Posts Surprise Revenue Growth

Lipstick is displayed at the M.A.C flagship store in Paris. (Reuters)
Lipstick is displayed at the M.A.C flagship store in Paris. (Reuters)
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M.A.C Brand Owner Estee Lauder Posts Surprise Revenue Growth

Lipstick is displayed at the M.A.C flagship store in Paris. (Reuters)
Lipstick is displayed at the M.A.C flagship store in Paris. (Reuters)

Estee Lauder Cos Inc on Friday reported a surprise rise in second-quarter sales, as the M.A.C brand owner benefited from a strong demand for its premium skin-care products in China.

A sustained strong demand for skin-care products, including serums and moisturizers, from customers keeping up their self-care routine has helped Estee Lauder and its peers cushion the impact from weak demand for traditional make-up items such as foundation and lipsticks.

Sales in its Asia/Pacific market rose 35% in the second quarter, helping the company post its first growth in revenue since the onset of the pandemic.

Estee Lauder also said it planned to resume its share buyback program during the second half of the fiscal year.

Net sales rose to $4.85 billion from $4.62 billion a year earlier, beating expectations of $4.49 billion, according to Refinitiv IBES data.

The company forecast third-quarter net sales to grow between 13% and 14%, while analysts on average estimate net sales to rise about 15.3% to $3.86 billion, according to IBES data from Refinitiv.



Sandal Scandal: Prada Credits New Design's Indian Legacy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi
Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi
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Sandal Scandal: Prada Credits New Design's Indian Legacy

Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi
Customers shop for 'Kolhapuri' sandals, an Indian ethnic footwear, at a store in New Delhi, India, June 27, 2025. REUTERS/Adnan Abidi

Luxury fashion powerhouse Prada has acknowledged the ancient Indian roots of its new sandal design after the debut of the open-toe footwear sparked a furor among Indian artisans and politicians thousands of miles from the catwalk in Italy.

Images from Prada's fashion show in Milan last weekend showed models wearing leather sandals with a braided design that resembled handmade Kolhapuri slippers with designs dating back to the 12th century.

A wave of criticism in the media and from lawmakers followed over the Italian brand's lack of public acknowledgement of the Indian sandal design, which is named after a city in the western state of Maharashtra.

Lorenzo Bertelli, son of Prada's owners, responded to the sandal scandal in a letter to a trade group on Friday recognizing their Indian heritage.

"We acknowledge that the sandals... are inspired by traditional Indian handcrafted footwear, with a centuries-old heritage," Bertelli, Prada's head of corporate social responsibility, wrote in the letter to the Maharashtra Chamber of Commerce, seen by Reuters.

The sandals are at an early stage of design and it is not certain they will be commercialized, but Prada is open to a "dialogue for meaningful exchange with local Indian artisans" and will arrange follow-up meetings, he wrote.

A Prada spokesperson issued a statement acknowledging the sandal's inspiration from India, adding the company has "always celebrated craftsmanship, heritage and design traditions".

Prada products are beyond the reach of most Indians. Its men's leather sandals retail for $844 and up, while the Kolhapuri slippers, sold in Indian shops and street markets, start at about $12.

India's luxury market is small but growing fast, with rising numbers of rich people buying Louis Vuitton bags, Lamborghini cars, luxury homes and watches.

Conversely, Indian culture and crafts are increasingly finding their way into global brand designs. High-end jeweler Bulgari offers a $16,000 Mangalsutra necklace inspired by a chain traditionally worn by married women.

Bertelli's homage to Indian design was sent in a response to a complaint from the head of the trade group that represents 3,000 Kolhapuri sandal artisans, as the online uproar gathered momentum.

"From the dusty lanes of Kolhapur to the glitzy runways of Milan... will the world finally give credit where it's due?" India's DNA News posted on X.

Sambhaji Chhatrapati from the Kolhapur Royal family told Reuters by phone he was upset that craftsmen had not been acknowledged for the "history and heritage of 150 years."

Kolhapur-based businessman Dileep More, however, said images of the Prada sandal were bringing cheer to some artisans as they show their traditional product going global.

"They are happy that someone is recognising their work," he said.