From CNBC.

Multinational beauty conglomerate Estée Lauder is trying to turn things around after slowing sales in China, a lack of innovation and continuing market share losses have caused its stock to tumble nearly 50% in 2024. New CEO Stéphane de la Faverie has expanded a restructuring plan that includes laying off up to 7,000 employees and costs equaling up to $1.6 billion by the end of fiscal year 2026. The question is: can the second largest beauty and cosmetics company behind rival, L’Oréal, make a comeback, or is this the end of an era?

Chapters:
0:00 Introduction
1:12 Chapter 1. Building an iconic brand
5:10 Chapter 2. The turnaround plan
7:17 Chapter 3. Risks

Produced and Shot by: Natalie Rice
Edited by: Darren Geeter
Animation: Jason Reginato, Mallory Brangan
Senior Managing Producer: Tala Hadavi
Additional Sources: Yogi, PitchBook, Euromonitor, McKinsey & Company, Statista
Additional Footage: Getty Images, AP Photos, L’Oréal, Bloomingdale’s

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Why Estée Lauder Is Spending $1.5 Billion On A Makeover