The Estée Lauder Companies to Establish Atelier in France to Further Accelerate Ambitions in Luxury and Prestige Fragrances. ELC announced the establishment of an Atelier in Paris, France, to further accelerate the company’s strategic ambitions in luxury and prestige fragrances.
@Estée Lauder Companies
Estée Lauder’s Move to Establish Atelier in Paris: A Game-Changer in Luxury Fragrances.
In a strategic move to solidify its position in the world of luxury and prestige fragrances, The Estée Lauder Companies (ELC) has made an exciting announcement. The beauty giant is set to establish an Atelier in the heart of Paris, France, with a planned opening by the end of calendar year 2024. This groundbreaking development aims to accelerate the company’s ambitions in the fragrance industry, promising a wave of innovation, speed-to-market, and artisanal quality that will undoubtedly leave a lasting impact.
Unprecedented Growth in Fragrance Business
The decision to set up an Atelier in Paris comes on the heels of ELC’s remarkable success in the fragrance business. Their reported net sales have surged by an impressive 40% since the pre-pandemic fiscal year of 2019. With 10 consecutive quarters of double-digit organic net sales growth through fiscal year-end 2023, ELC is riding a wave of momentum in the fragrance sector.
The Atelier’s Strategic Focus
This Paris-based Atelier is not just another establishment; it is a dedicated hub for fragrance innovation and craftsmanship. It will provide comprehensive support for ELC’s fragrance brand portfolio, fostering close collaboration with fragrance house partners, ingredient suppliers, and manufacturing networks. This is expected to unlock breakthrough product concepts, packaging innovations, and speed-to-market strategies.
Stéphane de La Faverie, Executive Group President of ELC, emphasized the importance of this new Atelier, stating, “Serving as an innovation enabler across our fragrance portfolio, its location will give us direct access to some of the best creative design resources, industry talent, and local suppliers and perfumers, to help continue to accelerate our momentum in this exciting category.”
ELC’s Fragrance Portfolio
The Estée Lauder Companies boasts an impressive array of fragrance brands, including Jo Malone London, TOM FORD, Estée Lauder, Le Labo, Clinique, KILIAN PARIS, Editions de Parfums Frédéric Malle, AERIN Beauty, and Aramis. With the addition of the Atelier in Paris, these brands are expected to reach new heights of creativity and innovation.
Competition in the Fragrance Industry
The move by Estée Lauder to establish an Atelier in Paris signifies a significant shift in the fragrance industry’s landscape. Competitors in the luxury fragrance sector will undoubtedly take note of this strategic expansion and its potential impact. Brands such as LVMH’s Dior and Louis Vuitton, Coty Inc., and L’Oréal’s luxury fragrance division, which includes brands like Yves Saint Laurent and Viktor & Rolf, will likely face heightened competition as Estée Lauder harnesses the creative energy and expertise of the Parisian fragrance scene.
A Bright Future for Luxury Fragrances
Fabrizio Freda, President and CEO of ELC, expressed his confidence in the company’s fragrance strategy, saying, “The power of the Company’s fragrance portfolio, bolstered by the strategic support of the Atelier, positions the Company well to drive future growth and value in this dynamic and fast-growing category, enabling ELC to continue to deliver exceptional luxury and prestige fragrances to consumers worldwide.”
