"Shrivastava, who joined ELC 10 years ago, was promoted to finance chief in November 2024, succeeding Tracey Travis who retired, and shortly before President and CEO Stéphane de La Faverie assumed his role. Their first joint earnings call in February was significant, as they announced the "Beauty Reimagined" strategy, Shrivastava said. The plan was created to restore credibility, address declining sales, a softening of demand in Asia, improve market agility, and respond to rising competition."
"Looking ahead to the new fiscal year, Shrivastava described it as the "year of returning to growth"-not just in top-line revenue, but also profitability. For Q1, he noted margin expansion, an almost doubled EPS, and 3% organic sales growth. This wasn't just a matter of tighter cost controls; it reflected a strategic decision to invest long-term in consumer needs, bucking the trend of short-term cost-cutting, Shrivastava explained."
Estée Lauder Companies (ELC) is gaining momentum in a multi-year turnaround driven by the "Beauty Reimagined" strategy to restore credibility, address declining sales, and improve market agility. Leadership changes included promoting Akhil Shrivastava to EVP and CFO and Stéphane de La Faverie becoming President and CEO. The plan features restructuring, job cuts, and increased emphasis on innovation and digital sales. Q1 fiscal 2026 results showed 4% year-over-year sales growth, early recovery in China and travel retail, margin expansion, nearly doubled EPS, and 3% organic sales growth. Operating margin rose 300 basis points to 7.3%, enabled by cost reductions and higher consumer-facing investments.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]