雅诗兰黛距离真正的复苏还有多远？

Core Viewpoint - Estée Lauder anticipates a return to growth in fiscal year 2026, contingent upon finding new brands to attract younger consumers [1] Group 1: Strategic Changes - CEO Stéphane de La Faverie emphasizes a strategic overhaul to focus on high-return opportunities, marking a departure from family management [1][2] - The "Beauty Reimagined" plan aims to streamline company structure, accelerate innovation, and enhance consumer focus [2] - Significant layoffs have occurred, with 7,000 employees cut globally, including 20% of management, to eliminate redundancy and simplify operations [2] Group 2: Brand Portfolio and Acquisitions - Estée Lauder owns 25 brands, primarily acquired and positioned as high-end, with underperforming hair and certain makeup brands likely to be sold [3] - The company is considering acquisitions of affordable brands to diversify its product price range, although specific plans will not be disclosed soon [3] - Estée Lauder is expanding its distribution channels, including launching eight brands on Amazon's "Luxury Beauty" channel and engaging in TikTok marketing [3] Group 3: Market Trends and Consumer Engagement - The company is responding to the "ingredient-focused" trend in beauty, initially cautious but now adapting its marketing strategies [4] - The Ordinary, a brand under Estée Lauder, has been a significant driver of organic sales growth globally [4] - La Mer, a high-end skincare brand, is collaborating with The Salk Institute to enhance its scientific credibility and market positioning [5] Group 4: Industry Challenges - The beauty industry faces challenges in retaining younger consumers, with social media accelerating shifts in beauty trends [6] - Increased pricing competition from online platforms adds pressure on brands to lower prices to attract consumers [6]