GO
Loading...

Weaker dollar boosting beauty biz, says Lauder CEO

Family owned and operated cosmetic behemoth Estee Lauder has struck gold overseas.

William Lauder, Estee Lauder’s President & CEO, told CNBC’s Margaret Brennan that the weak U.S. dollar and steady consumer confidence is keeping the company in the “black” this holiday season.

In addition, online sales on “Cyber Monday” were “great” and hit a record, said Lauder, who expects both online and department store figures to remain strong. “We see our fastest growing segments in department stores in Asia,” Lauder said.

“The market does not understand the uniqueness of our business,” Lauder said. “Our key competitors are not based in the United States, and now, a majority of our business is not in the United States.”

Asia and Western Europe are proving to be more lucrative markets, he said.

Retail

Latest Special Reports

  • In this ever increasing volatile world only leaders who can manage fast change can survive and prosper.

  • Famous founders reveal their secrets on how to build an iconic company—and change the world in the process.

  • Financial advisors stress that now is the time for investors to get serious about year-end financial planning checkup.