Estée Lauder CEO Predicts Return to Growth in U.S. Beauty Market

Despite the global beauty boom, U.S. sales have remained sluggish for the Estée Lauder Cos. Inc. — but Fabrizio Freda, president and chief executive officer, doesn’t think they’re going to stay that way. Fabrizio Freda  UNGANO&AGRIODIMAS For Lauder, North America sales were down 2 percent, to $1.15 billion in the quarter. Financial trends in that market, which are mostly due to a slowdown in the U.S., stand in stark contrast to Lauder’s results broadly. The business posted an 11 percent gain in net sales for its third fiscal quarter, with sales gains across most product categories and geographies. “The U.S. market overall in this moment in prestige beauty in declining,” Freda said in an interview with WWD after the company’s earnings call Wednesday. “In that sense, it’s not a very attractive market. But when you don’t look at it in total and you go much more granularly in pockets of the market, in the U.S. in this moment there are some exciting growth pockets,” Freda said. Lauder is planning to focus on those pockets in order to drive regional growth in future quarters, Freda said. “Instead of waiting for the total market to grow, we’re going to look for growth where growth is.” Lauder will ramp

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