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Mere hours after longtime Estée Lauder Companies chief executive Fabrizio Freda announced his retirement, the beauty giant’s leaders had a message for his yet-to-be-named successor: You’ve got your work cut out for you.
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Estée Lauder is forecasting annual revenue growth below analysts’ expectations, a sign that the cosmetics company’s long-awaited recovery has hit another roadblock.
Freda, who has been at the company for over 16 years, will retire at the end of the 2025 fiscal year in June.
The beauty giant announced layoffs and plans to regain profitability, measures to restore faith in investors and customers alike.
Daniela Morosini is Senior Beauty Correspondent and Special Projects Editor at The Business of Beauty at BoF. She covers the global beauty industry, with an interest in how companies go to market and overcome hurdles.
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