Estee Lauder grows presence in China’s second-tier cities
Estée Lauder has revealed plans to grow its presence in China’s second-tier cities to help boost its flagging sales figures.
Estée Lauder has revealed plans to grow its presence in China’s second-tier cities to help boost its flagging sales figures.
“In China, prestige beauty growth remains solid even though it has slowed,” said the firm’s President and Chief Executive Officer Fabrizio Freda. “The slowdown has been concentrated in tier one cities,” he continued, “while the smaller cities are generating good growth. “We have aligned our strategy to this reality and opened in six new tier three cities during the quarter. Our 14 brands sold in China maintain the leading position among prestige cosmetic groups in our distribution.”
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