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.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.