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Estée Lauder Joins $10 Billion Sales Club

September 9, 2013: 12:00 AM EST
Estée Lauder reported net sales grew 5 percent to $10.2 billion for the fiscal year ending June 30, 2013, joining the elite club of companies with sales of over $10 billion. Founded in 1946 by Joseph and Estée Lauder, the company manufactures and sells prestige skin care, makeup, fragrances, and hair-care products. Since then, the company has changed and grown significantly, expanding its market share under the leadership of president and CEO Fabrizio Freda. Focused on growing its operations in China, Germany, and France, Estée Lauder launched new brands, such as Zegna Uomo and Tommy Hilfiger Freedom Men. Business is growing in most markets, with the Americas rising around 5 percent, driven by double-digit growth in Latin America.
Walter Loeb, "Estée Lauder -- A Beauty Company To Be Reckoned With", Forbes, September 09, 2013, © Forbes.com LLC™
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