How the Beauty Industry Is Getting in on Fashion Week
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1m 57s
William Lauder, Executive Chairman of The Estee Lauder Companies, and George Ledes, President and Chairman of Beauty Fashion and Cosmetic World, talk Estee Lauder's approach to digital retail and the millennial consumer. The cosmetics company recently acquired trendy makeup brands Too Faced and Becca Cosmetics and saw digital sales increase 33% from the year before. Lauder notes that he does not see much separation between over-the-counter and online sales, however. He adds that makeup is an experiential product that people need to test and try, and that the company's over-the-counter sales are as strong as they've ever been.
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