×
52
Fashion Jobs
SHISEIDO
Drunk Elephant Account Manager - Arnotts Dublin (37.5 Hours)
Permanent · Dublin
LEVI'S
Summer Stylist Temp
Fixed-term · Kildare
RITUALS
Store Manager - Dundrum (40 Hours)
Permanent · Dublin
RITUALS
Sales Advisor - Dundrum (8 Hours)
Permanent · Dublin
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 16h - Permanent - Dublin m/f
Permanent · DUBLIN 2
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 15h - Permanent- bt Dundrum m/f
Permanent · DUBLIN
CLAUDIE PIERLOT IRLANDE
Sales Assistant - 10h - Fixed-Term - bt Dundrum m/f
Fixed-term · DUBLIN
LULULEMON
Educator | Brown Thomas Grafton st Part-Time
Permanent · Dublin 2
BA&SH
New Opening - Staff Members - Dundrum Dublin
Permanent · DUBLIN
LULULEMON
Key Leader | Brown Thomas Grafton st
Permanent · Dublin
AMERICAN VINTAGE
Assistant Store Manager (M/W) New Opening
Permanent · KILDARE
RITUALS
Sales Advisor - Galway (24 Hours)
Permanent · Galway
BA&SH
Sales Assistant - Kildare Village - New Opening
Permanent · KILDARE
BA&SH
Store Manager - Kildare Village - New Opening
Permanent · KILDARE
AMERICAN VINTAGE
Store Manager (M/W) New Opening
Permanent · KILDARE
SHISEIDO
Nars Makeup Artist - Brown Thomas Dublin (15 Hours)
Permanent · Dublin
TK MAXX
10014-Associate
Permanent · Drogheda
LULULEMON
Store Manager | Brown Thomas Cork
Permanent · Cork
LULULEMON
Educator Part-Time | Dundrum
Permanent · Dublin
LULULEMON
Educator Full - Time | Dundrum
Permanent · Dublin
RITUALS
Supervisor - Dundrum (32 Hours)
Permanent · Dublin
RITUALS
Store Manager - Dundrum (40 Hours)
Permanent · Dublin
By
Reuters
Published
Jun 9, 2009
Reading time
3 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Estee sees easy-on-wallet holiday items

By
Reuters
Published
Jun 9, 2009

By Aarthi Sivaraman

NEW YORK (Reuters) - Estee Lauder Cos Inc (EL.N) is working to put more affordable products on store shelves for the 2009 holiday season and expects seasonal sales to be similar to those of a year earlier, the cosmetics and perfume company's COO said on Tuesday 9 June.


Estée Lauder

Estee's steps are geared toward attracting cash-strapped shoppers who are seeking cheaper items in the recession but still have an affinity for their favorite makeup or skin-care products.

Speaking at the Reuters Global Luxury Summit in New York, Chief Operating Officer Fabrizio Freda said gift items for 2009 will "include all the learnings we have" from last year's holiday season.

"Some SKUs (stock keeping unit) will have a lower entry price point ... then we will have more innovation that will be focused in the area of the entry price points," Freda said.

Estee is also making smaller sizes for some products, such as the 50 ml (1.7 oz) and 30 ml (1 oz) bottles of its Clinique Happy perfume. Its regular size is 100 ml (3.4 oz).

"The value per ml is still in the 100 (ml) but the absolute price point in the 30 ml size is much lower, and they are finding they are selling more at that 30 ml size," said CEO William Lauder at the summit in New York. "The consumer has some money to spend, she just doesn't have as much so she'd rather spend a little bit now."

The fresh focus on prices comes after the retail industry last year suffered one of its worst holiday periods in nearly four decades. Shoppers cut back on unnecessary items in the economic slump, and retailers in turn promoted deep discounts to attract customers back into stores.

While consumers are not prepared to return to full-priced shopping any time soon, higher-end companies are trying to maintain the balance between preserving their brand image and enticing consumers with lower prices.

Estee's higher-end brands include La Mer and Estee Lauder, while its Clinique and M.A.C brands are considered more affordable.

As consumers seek to save, they are turning to less expensive brands like Clinique and M.A.C, but not "trading out" of its brands, which it sells primarily in department stores such as Macy's Inc (M.N) and Saks Inc (SKS.N), Lauder said.

"In North America as well as in other parts of the world, a value proposition for the consumer is getting her attention in a more meaningful manner than it did in the past," Lauder said. "The whole concept of 'price is no object' has really gone away."

Freda will replace Lauder at Estee's helm on July 1, to become only the second person who is not a member of the Lauder family to serve as CEO.

The company's stock has dropped 26 percent in the past year, falling to $19.82 on March 9 -- its lowest in 12 months.

One issue for the stock is that analysts that follow Estee Lauder in North America did not have any U.S.-based companies similar to Estee for comparison, so they usually end up viewing it alongside consumer products companies like Procter & Gamble Co (PG.N) or Colgate-Palmolive Co (CL.N), Lauder said.

Estee is seeking acquisitions that fit its portfolio, but Lauder did not give further details.

(Reporting by Aarthi Sivaraman; Editing by John Wallace, Phil Berlowitz)

© Thomson Reuters 2022 All rights reserved.