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ELC Partners with Exuud on Breakthrough Technology Platform for the Next Frontier of Fragrance Innovation

Press Release

NEW YORK JANUARY 16, 2025: The Estée Lauder Companies Inc. (NYSE: EL) (ELC) today announced an exclusive agreement with Exuud Inc. on a smart fragrance expression hardware platform that aims to change the future of olfactive innovation. ELC plans to integrate this pioneering technology into its fragrance portfolio by end of calendar year 2025 to further advance its strategic focus in prestige and luxury fragrance innovation.  
 
In the second half of fiscal year 2024, ELC invested in Exuud,1 seeing value in the patented fragrance delivery system, known as SoliqaireTM. SoliqaireTM uses plant-derived, biodegradable polymer blends that absorb and release fragrance as well as novel hardware platforms that control fragrance release without requiring heat or generating aerosols to create a consistent and long-lasting scent experience. Building upon this, ELC recently secured an exclusive commercial agreement with Exuud, which will enable new opportunities for customization, design, and sustainability across ELC’s fragrance portfolio and enrich the consumer experience.  
 
"At ELC, we’re passionate about bringing the best fragrances to consumers and innovating for their unique experiences,” said Sumit Bhasin, SVP, Corporate Fragrance Research & Development, Product Development and Innovation, The Estée Lauder Companies. “We’re excited to announce our partnership with Exuud on this cutting-edge technology to support our artisanal craftsmanship and revolutionize how we experience fragrances with more control, consistency, personalization, and sustainability. The breakthrough possibilities for customization in design, fragrance experience, and more are exciting.”  
 
This SoliqaireTM technology will enable consumers to program a more efficacious, consistent, and personalized fragrance experience, including for the intensity, duration, and frequency of the fragrance. The delivery system combines deep technological innovations with luxury craftsmanship, transforming how the world interacts with scents.  
 
“Exuud is on a mission to revolutionize the way people interact with fragrance, and we are excited to join forces with ELC, a global leader in prestige beauty and fragrance,” said Abhishek Breja, Co-Founder and CEO of Exuud. “ELC shares our vision of creating immersive and memorable fragrance experiences that enhance the well-being and happiness of consumers. Together, we will bring our breakthrough SoliqaireTM technology to a wider audience and create new products that combine beauty, precision functionality, and sustainability.”  
 
The initial investment in Exuud was led in partnership with ELC’s New Incubation Ventures (“NIV”) team, which is the strategic early-stage investment and incubation arm for The Estée Lauder Companies. NIV partners with forward-thinking innovators to create, fund, and support the most promising beauty brands, cutting-edge technologies and transformative business models to shape the future of beauty and build an actionable pipeline of diversified brands and new engines of growth for the ELC portfolio.  
 
This investment and subsequent commercial agreement are part of ELC’s broader strategy to further accelerate fragrance innovation and craftsmanship and enhance holistic support for ELC’s fragrance brand portfolio. In December 2024, ELC announced the location of its new Fragrance Atelier in Paris, slated to open in 2025, which will complement ELC’s existing enterprise-wide fragrance capabilities worldwide and provide holistic support for the company’s fragrance brand portfolio in proximity to its fragrance house partners, ingredient suppliers and manufacturing network.  
 
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, Le Labo, Estée Lauder, Clinique, KILIAN PARIS, Editions de Parfums Frederic Malle, AERIN Beauty, Aramis, and BALMAIN Beauty.  

1 EXUUD and SOLIQIARE are trademarks of Exuud, Inc.
 
Cautionary Note Regarding Forward-Looking Statements  
Statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, actual results may differ materially from the Company’s expectations. Factors that could cause actual results to differ from expectations include the ability to successfully implement its strategy, including the Company’s profit recovery and growth plan; successfully transition its leadership; and those other factors described in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K. The Company assumes no responsibility to update forward-looking statements made herein or otherwise.  
 
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About The Estée Lauder Companies Inc.  
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+, the DECIEM family of brands, including The Ordinary and NIOD, and BALMAIN Beauty.  

 

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