Estée Lauder Companies (ELC) has reported a Q4 net sales climb of 14 percent to $3.3bn year on year boosted by strong growth in travel retail, online and developed and emerging markets.
Skin care showed the most positive growth in travel retail, with the Estée Lauder and La Mer brands posting particularly strong results. Europe, the middle east and Africa (EMEA) was boosted by strong fragrance performances in travel retail.
Estée Lauder Companies President and CEO Fabrizio Freda stated, “Fiscal 2018 was an outstanding year for our company. We generated higher sales in every region and product category and gained global share. By investing in our hero franchises, fast-growing channels and digital and social media, we delivered double-digit sales and adjusted earnings per share growth. We achieved record net sales in fiscal 2018 and one of our best performances in the last decade.”
Sales of Estée Lauder were said to have been boosted by the millennial consumer group that is happy to spend on make-up. Indeed, make-up sales grew 2 percent to $1.36 billion with fragrance reporting a 9 percent growth while hair care rose 6 percent.
US sales grew 2 percent, while EMEA grew 16 percent to $1.4 billion and Asia Pacific saw a rise of 23 percent.