Estée Lauder scales back discounts after strong demand for luxury perfumes

Estée Lauder relies less and less on discounts and promotions, as the American beauty group benefits from strong demand for luxury perfumes and a recovering Chinese market. Following a better-than-expected first quarter, the company is raising its annual forecasts and presenting ambitious growth targets through 2030.

Luxury perfumes on the rise

Estée Lauder appears to have found its path to recovery. In its first quarter, which ended on September 30, the cosmetics group’s revenue rose 7% to $3.72 billion (€3.2 billion). Organic growth was 6%. Adjusted earnings per share came in at $0.72, well above the expected $0.51.