Suryaa Business Desk: Global cosmetics manufacturer Estee Lauder has announced its long-term business plans. The company aims to achieve mid-single-digit organic sales growth annually by 2030. This strategic plan is designed to increase market share and restore profitability as global consumption of beauty products gradually rises.
In recent years, the company has faced challenges including slowing consumption in Asian markets, a decline in demand for premium beauty products in China, and lower-than-expected travel retail sales at airports. To restore growth, the company has decided to strengthen its digital network, expand operations in emerging markets, and introduce new innovations to attract younger consumers.
Furthermore, the company is accelerating restructuring measures to make its production system and supply chain more agile in response to changing international trends. Management expressed confidence that introducing new models in the premium skincare and makeup segments will help bring profits to a sustainable level by 2030. Industry experts anticipate that these plans, designed with a goal of sustainable growth, will strengthen the company's position in the global cosmetic market.