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.



Prada's Brand CEO Gianfranco D'Attis to Quit

FILE PHOTO: People walk past the store of Italian luxury fashion house Prada on 5th Avenue in New York City, US, May 23, 2025. REUTERS/Adam Gray/File Photo
FILE PHOTO: People walk past the store of Italian luxury fashion house Prada on 5th Avenue in New York City, US, May 23, 2025. REUTERS/Adam Gray/File Photo
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Prada's Brand CEO Gianfranco D'Attis to Quit

FILE PHOTO: People walk past the store of Italian luxury fashion house Prada on 5th Avenue in New York City, US, May 23, 2025. REUTERS/Adam Gray/File Photo
FILE PHOTO: People walk past the store of Italian luxury fashion house Prada on 5th Avenue in New York City, US, May 23, 2025. REUTERS/Adam Gray/File Photo

Prada's brand CEO Gianfranco D'Attis will leave the Italian luxury firm at the end of the month by "mutual agreement", Prada said on Sunday.

Prada Group's CEO Andrea Guerra will take on the role of brand CEO on an interim basis, the company told Reuters.

The news was first reported by fashion trade publication WWD.

Luxury fashion has seen several changes in senior leadership and creative directors.

Luxury goods giant Kering, which owns Gucci, last week named Renault boss Luca de Meo as its new CEO, replacing Francois-Henri Pinault, who has led the heavily indebted family firm since 2005.

Top luxury houses are also betting on a new design direction to help rekindle interest from shoppers, who have pulled back on fashion as prices rise.

Earlier in June, LVMH-owned Dior appointed its menswear designer, Jonathan Anderson, to also head womenswear designs and haute couture, replacing Maria Grazia Chiuri.

Kering in May appointed former Valentino designer Pierpaolo Piccioli as creative director of Balenciaga, replacing Demna, who was taking up the chief design job at Gucci.

Designer changes have also taken place at Chanel, Versace, Valentino and LVMH-owned Celine among others.