— all billionaires —- are the children or grandchildren of founder Estee Lauder, who launched the company with her husband Joseph in 1946. Leonard Lauder’s net worth rose by $1.8 billion on Monday, making him the second biggest gainer of the day, behind luxury goods baron Bernard Arnault, who was up $2.2 billion.
It’s been a banner year so far for Estee Lauder stock, which has risen by 55%. The five billionaire Lauders are together worth an estimated $32.4 billion, up 24% since early March, whenThe New York-based cosmetics company behind brands like MAC Cosmetics and Bobbi Brown reported that net earnings rose to $1.79 billion in the year through June 30, 2019, up a whopping 61% from $1.11 billion the previous year. Net sales climbed 9% to nearly $14.
Fabrizio Freda, Estee Lauder’s President and CEO, attributed the company’s eye-popping gains to improved data analytics, which helped drive better digital marketing. All five Lauder family members are either board members or executives at the company and help oversee its more than 25 brands. William, 59, is the chairman of the company; he served as CEO from 2004 to 2009. Aerin, 49, the eldest daughter of Ronald and the style and image director at Estee Lauder, founded her own luxury lifestyle brand, AERIN Cosmetics, in 2012.
Estee Lauder CEO Freda expressed optimism about the company’s capacity to perform in fiscal 2020, stressing that he plans to continue investing in emerging markets beyond China. Estee Lauder is already doing business in over 150 countries and territories.
shannoncoulter
Sounds fair.
Okay 👌 Now try making the planet 🌏 and the people rich! 😁 I'm sure it'll really put a lotta smiles on your faces, when you start seeing the future more colourful and more beautiful. Once there are no poor people in this beautiful planet 🌏 ❤️
fk em.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »