Why Estée Lauder Is Spending $1.5 Billion On A Makeover
Multinational beauty conglomerate Estée Lauder is trying to turn things around after slowing sales in China, a lack of innovation and continuing market share losses have caused its stock to tumble nearly 50% in 2024. New CEO Stéphane de la Faverie has expanded a restructuring plan that includes laying off up to 7,000 employees and costs equaling up to $1.6 billion by the end of fiscal year 2026. The question is: can the second largest beauty and cosmetics company behind rival, L'Oréal, make a comeback, or is this the end of an era? Chapters: 0:00 Introduction 1:12 Chapter 1. Building an iconic brand 5:10 Chapter 2. The turnaround plan 7:17 Chapter 3. Risks Produced and Shot by: Natalie Rice Edited by: Darren Geeter Animation: Jason Reginato, Mallory Brangan Senior Managing Producer: Tala Hadavi Additional Sources: Yogi, PitchBook, Euromonitor, McKinsey & Company, Statista Additional Footage: Getty Images, AP Photos, L'Oréal, Bloomingdale’s » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to earn some extra money on the side? Take CNBC’s new online course How to Start a Side Hustle to learn tips to get started and strategies for success from top side hustle experts. Pre-register now and use coupon code EARLYBIRD for an introductory discount of 30% off $97 (+taxes and fees) through April 1, 2025: https://cnb.cx/4gPqi2y Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC #EstéeLauder #Cosmetics Why Estée Lauder Is Spending $1.5 Billion On A Makeover
