The Estée Lauder Companies to Establish Atelier in France to Further Accelerate Ambitions in Luxury and Prestige Fragrances

Building on the strength of its successful fragrance business, where reported net sales have grown nearly 40% since pre-pandemic fiscal year 2019, The Estée Lauder Companies (ELC) is pleased to announce the establishment of an Atelier in Paris, France. With a planned opening by end of calendar year 2024, the Atelier will further accelerate ELC’s strategic ambitions in luxury and prestige fragrances, supporting the Company’s existing enterprise-wide fragrance capabilities to help drive breakthrough innovation, speed-to-market, and artisanal quality at scale, leveraging synergies across the brand portfolio.

With the establishment of the Atelier, ELC expects to capitalize on the momentum of its Fragrance business, which has delivered 10 consecutive quarters of at least double-digit organic net sales growth through fiscal year-end 2023, and realize the compelling long-term growth opportunities of the category. 

The Paris-based Atelier will be exclusively focused on fragrance innovation and craftmanship and will provide holistic support for ELC’s fragrance brand portfolio in proximity to the Company’s fragrance house partners, ingredient suppliers and manufacturing network. Led by an agile team of dedicated fragrance experts, the Atelier will help enable deeper co-creation and collaboration with external partners to help unlock breakthrough product, packaging, and concept innovation at greater speed-to-market. 

“We are thrilled to announce the establishment of our new Atelier," said Stéphane de La Faverie, Executive Group President. “Serving as an innovation enabler across our fragrance portfolio, its location will give us direct access to some of the best creative design resources, industry talent and local suppliers and perfumers, to help continue to accelerate our momentum in this exciting category.”

ELC has been a leader in prestige and luxury fragrances since the breakthrough introduction of Estée Lauder’s first fragrance in 1953.Today, the Company’s exceptional and diverse fragrance portfolio includes Jo Malone London, TOM FORD, Estée Lauder, Le Labo, Clinique, KILIAN PARIS, Editions de Parfums Frédéric Malle, AERIN Beauty, and Aramis.

“ELC’s continued commitment to its long-term fragrance strategy is built on this extraordinary heritage of creativity and innovation,” said Fabrizio Freda, President and CEO. “The power of the Company’s fragrance portfolio, bolstered by the strategic support of the Atelier, positions the Company well to drive future growth and value in this dynamic and fast-growing category, enabling ELC to continue to deliver exceptional luxury and prestige fragrances to consumers worldwide.” 

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This announcement contains forward-looking statements within the meaning of the federal securities laws, including statements regarding plans and expectations for the Atelier and ELC’s fragrance business. These forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including: competition in the fragrance business and changes in scope or timing of the planned opening. Additional risks and uncertainties that may cause actual results to differ materially include the risks and uncertainties listed in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Form 10-K filed with the SEC on August 18, 2023. The Company assumes no responsibility to update forward-looking statements made herein or otherwise.

About The Estée Lauder Companies

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.