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Christie's responds to Asian demand for vineyard acquisition service Friday, 10th May 2013
The auctioneer is merging their real estate and fine wine segments to create a new service which aids clients in purchasing vineyards. The legendary auction house, which specialises in 80 different categories including, fine art, jewellery, photographs and collectibles, will form Vineyards by Christie’s International Real Estate in response to a growing demand from its customers.
Luxury retailers remain resilient in the face of downturn Wednesday, 15th August 2012
The luxury sector has remained resilient at a time when many high street retailers are finding themselves against the wall or on the shelf as the tense economic climate shows no signs of letting up.
Marni to launch a fragrance with Estée Lauder Wednesday, 14th September 2011
Marni has confirmed that it will collaborate with cosmetics giant Estée Lauder to produce a scent for release in 2012.
Lauder’s spokeswoman Veronique Gabai-Pinsky has commented that “wearing Marni is like wearing a piece of art”. According to well-known beauty publications, the scent will have to potential to be as iconic as house fragrances by Jean-Paul Gaultier and Moschino.
Estée Lauder adopts softly-softly approach Tuesday, 16th August 2011
Estée Lauder Co. favoured a cautious outlook for its upcoming fiscal year, warning that the recent global economic troubles are likely to have an adverse effect on purchases of its high-end cosmetics.
The guarded view came as Estée Lauder reported back from a strong year with fourth quarter earnings rising 72 per cent on better sales in nearly every category and region, as the cosmetics company reaped the rewards from new product launches and increased advertising.
It is likely the resilience and spending power of Estée Lauder’s core customer will be put to the test in the coming months as upper-income shoppers react to volatile stock markets and weakened consumer confidence.
Although Estée Lauder is yet to see an impact on orders, the company is bracing for a softer demand;
"The recent volatility and uncertainty in global financial markets may impact consumer confidence, demand and spending," Chief Executive Fabrizio Freda said Monday during an earnings call.
Estée Lauder shares came down nearly 7 per cent in early trading to USD 94, as its fiscal outlook fell short of Wall Street expectations. The company announced it expects per-share earnings for the year of USD 4 to USD 4.20 on revenue growth of 6 per cent and 8 per cent, below estimates of analysts polled by Thomson Reuters of USD 4.37 per share on revenue growth of 7 per cent to USD 9.44 billion, respectively.
One to watch: MAC eyes European expansion Wednesday, 18th May 2011
MAC Cosmetics will put its best face forward as it looks to step up its European offering over the next three years.
The Estée Lauder- owned company announced it will be zoning in on the major fashion cities of Europe as it moves away from a dependence on North American domestic sales. MAC currently operates in 450 stores throughout Europe, 41 percent of which are freestanding, making it the highest concentration of MAC-owned stores in any region for the company.
“Europe is currently about 25 percent of our global business, and it’s one of the fastest growing regions we have,” Karen Buglisi, global brand president at MAC told press.
With double-digit sales gains in Europe for 2010 and 50 percent of all business done outside of North America for the brand, it’s no wonder MAC are looking to new markets for profit drivers. Buglisi told press that she forecasted MAC’s business outside of North America to grow to 60 percent, stating that “Europe would be a big part of that.”
Over the next few years it seems MAC will play on its strengths- focusing on its well respected position within the European fashion community for its main brand positioning. London and Paris will be first on the hit list as MAC looks to develop its role as the official brand of London Fashion Week, whilst working with Fédération Française de la Couture.
Estée Lauder plans to revitalise with expansion into developing markets Monday, 28th March 2011
The high end historic family brand positions itself for Chinese and Middle Eastern growth.This month saw sales representatives from Dubai, Hong Kong and Shanghai assemble for talks at the Estée Lauder head quarters in Manhattan. Currently producing 28 luxury brands for the cosmetics world, including MAC and Clinique, the company is looking to capitalise on the growing appetite for luxury found in the developing markets of the Middle and Far East.For the Lauder family, their success lies in the ability to balance the heritage of the brand with the demands of the global marketplace. The new models that will front the brand hail from China, Puerto Rico and France, a clear sign of a company looking to expand its audience abroad.With a net worth estimated by Forbes at USD 6 billion, the family have maintained a high end stance in the market by refusing to “go mass,” favouring product quality and narrow distribution to luxury retailers.In order to revitalise the brand, the Lauders will be focusing “more resources on fewer, bigger ideas,” said chief executive Fabrizio Freda.