Estee Lauder eyes big Asian expansion as mainland China sales roar
Cosmetics firm says it plans to open more stores across regionas best growth in world comes from mainland market
Estee Lauder, one of the world's largest cosmetics firms, plans to hire thousands more staff over the next seven years in Asia as it opens many more stores across the region.
The New York-listed company's global chairman, William Lauder, said that by 2020, the firm plans to hire several thousand more staff in Asia, where he believes it can achieve annual sales growth of 8 per cent.
The company has 38,500 staff worldwide.
"Hong Kong and mainland China are very important markets to us," Lauder told the , adding the mainland market was showing the strongest growth of any around the world.
"Chinese shoppers are not only buying in China, but they shop in Hong Kong, Paris, London and at airports whenever they travel. Chinese customers like shopping," Lauder said.
Estee Lauder, which makes and sells skin-care products, cosmetics and perfume in more than 150 markets worldwide under its own brand, also owns a portfolio of 30 other cosmetics brands, including Clinique, Origins, MAC, Bobbi Brown, La Mer, Aveda, Sean John and Missoni.
The company derives 42 per cent of its sales from the United States, 37 per cent from Europe, Middle East and Africa and 21 per cent from the Asia-Pacific region.
