Estée Lauder Focuses More On Emerging Markets To Spur Sales Growth

With sales slowing down in the United States, cosmetics company Estée Lauder Cos. is focusing on emerging markets, including Latin America and China, and expanding airport sales to ensure future sales growth. Although the company reported record revenue of over $10 billion, with profits rising 20 percent to more than $1 billion in fiscal 2013, sales grew at a low rate of 5 percent during the period. Estée Lauder CEO Fabrizio Freda has implemented cost-cutting initiatives, including a 6 percent workforce reduction, helping the company’s stock to rise by 13 percent in the past 12 months.