Fabrizio Freda (pictured with actress Liz Hurley) will step down in June 2025 but continue to lead the company until a replacement is found.
Estee Lauder’s chief executive has announced he will retire after nearly 15 years at the top as the beauty giant continues to suffer a sales slump.
Fabrizio Freda will step down in June 2025 but continue to lead the company until a replacement is found.
Freda, 66, made the announcement as the US beauty giant forecast lower than expected sales as the Chinese market continues to slow.
The company, whose brands include Mac and Clinique, expects revenue in a range between a 1pc decrease and a 2pc increase. That is far lower than the 6pc growth City analysts were predicting.
The make-up group blamed the forecast on ‘persistent weak sentiment among Chinese consumers’.
Like luxury rivals, Estee Lauder has suffered as shoppers cut back on spending.
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