Are There Too Many Beauty Brands?
Lots of "restructuring" going on over at the Estée Lauder brands
Hello, Gorgeous!
Yesterday, there was some extremely upsetting news over at Estée Lauder.
As reported on Retail Dive and a bunch of other outlets, Estée Lauder is geared to cut up to 7,000 jobs, which amounts to about 11% of its global workforce.
Ouch.
Bad news for the Lauder brands
The news was sneaked into an overlong statement that started on a high note with a quote from Stéphane de La Faverie, President and Chief Executive Officer.
“Today, we are excited to launch Beauty Reimagined, a bold strategic vision to restore sustainable sales growth and achieve a solid double-digit adjusted operating margin over the next few years as we aim to become the best consumer-centric prestige beauty company.”
To be fair, after the confusing talk of things going well, La Faverie later discussed weak sales.
What is restructuring anyway?
In this case, restructuring is a barely veiled way of saying slash and burn and try to revive. An…
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