Estée Lauder sales spike amid rapid China growth
Estée Lauder has posted a spike in fourth-quarter sales, driven by its performance in China.
The cosmetics giant, which owns 25 brands and sells in around 250 countries across the globe, said group revenues rose 9% to $3.6bn (£3bn) in the three months to June 30.
Estée Lauder has been selling 10 of its brands, including Mac and Tom Ford, an Alibaba’s Tmal marketplace in a bid to boost sales in Asia.
Sales in its Asia-Pacific region jumped 18% during the quarter as a result of the strategic push.
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