REPOST: Higher Passenger Traffic From Asia-Pacific Should Bolster Estee Lauder Travel Retail Sales

Forbes analyzes how the growth in Asia-Pacific passenger traffic would drive the future of Estee Lauder Companies in the travel retail sector.

Image Source: chinadaily.com.cn

 

In FY2013, prestige beauty product maker Estée Lauder reported sales of approximately $10.2 billion compared to $9.7 billion in sales in FY2012, a 5.2% increase. The company sells its products through various upscale departmental stores, specialty retailers, prestige salons and spas. In total, Estée Lauder estimates it has close to 30,000 points of sale within these distribution channels, generating sales of its beauty products across the world. Additionally, the company also markets its products through freestanding stores, duty-free and travel retail outlets worldwide, and also its own and other authorized retailer websites.

In this note, we provide an analysis of Estée Lauder’s travel retail business, underlining various factors that impact the division’s performance and its potential value contribution to overall top line for the company. We have a $75 Trefis price estimate for Estée Lauder, which stands at an 11% premium to its market price.

A Look At Estée Lauder’s Travel Retail Business

Travel retail sales for Estée Lauder increased to over $1 billion in FY2012, driven by the increase in global passenger traffic. For fiscal 2013, sales from the travel retail channel grew at thrice the pace of global passenger growth rate. According to data from the IATA, global passenger demand expanded 5.2% in 2013, from close to 3 billion passengers in 2012. This should put Estée Lauder’s travel retail sales growth rate at over 15% for fiscal 2013, to stand at approximately $1,156 million. Much of the 15% growth rate in travel retail comes from the sale of skin care products. As a percentage of overall revenue, this marks a sizable 11.4% contribution from the travel retail channel for Estée Lauder.

Asia-Pacific Passenger Traffic Growth Should Support Strong Travel Retail Expansion

A major factor for travel retail revenues standing at three times global passenger traffic is the combination of expanding disposable income in the Asia-Pacific region, along with strategic positioning of travel retail outlets by Estée Lauder. The main customer base for a travel retail outlet is the global passenger, and hence, positioning such outlets in high traffic corridors is key to having a higher growth rate.

International passenger demand is the highest for the Middle Eastern region at 12.1% in 2013. Similarly, emerging market regions of Latin America, Africa and Asia-Pacific registered growth rates of 8.1%, 5.5% and 5.3% respectively, in international passenger demand. Meanwhile, developed economies of Europe and North America had growth rates of 3.8% and 3% in international passenger demand. The Asia-Pacific region, in addition to outpacing passenger demand from developed economies, leads the world passenger traffic with a 29% share according to Airbus, followed by Europe and North America at 26% and 25% respectively.

Estée Lauder has capitalized on the strong demand for international travel from Asian customers and is the leading travel retailer in the Asia-Pacific market. By the end of fiscal 2012, the company had a total of 1,600 travel retail outlets worldwide. However, we believe a majority of these travel retail outlets to be situated in travel corridors popular among Asian customers, given their expanding discretionary wallet share. Going forward, the company could continue to establish itself as a strong travel retailer within the Asia-Pacific region by opening more stores.

Image Source thehighlow.com

Travel Retail Investments Should Lead To Market Share Expansion For Estée Lauder

Going forward, Airbus expects domestic travel within China and India to drive overall Asia-Pacific passenger demand, with annualized growth rates of 7% and 10% respectively through 2032. In addition to strong domestic travel growth, international travel corridors (such as Intra Asia, Asia – Middle East, Asia – PRC and Central Europe – Western Europe) are expected to see a higher demand in passenger traffic than the global growth rate of 4.7% annually through 2032. This burgeoning demand surrounding the Asia-Pacific and Middle East regions should drive future investments into travel retail from cosmetics companies.

We expect Estée Lauder to increase its investments into the travel retail business in the future, driven by the higher revenue growth rate from the division. Through its travel retail channel, Estée Lauder has achieved a 15% top line growth rate compared to 4% for overall revenues in CY2013. Additionally, growth in travel retail is primarily resulting from the sale of skin care products. At the end of CY2013, we estimate Estée Lauder’s skin care market share to stand at approximately 7.6%. However, higher investments into travel retail should be able to drive future revenues and expand its skin care market share in the future.

William Lauder has been able to shape Estée Lauder Companies into a brand-building powerhouse that it is today with his leadership and unparalleled commitment to innovation and creativity. Click here for more updates on ELC's expansive portfolio.

REPOST: Aveda founder, Horst Rechelbacher, dies at 72

Renowned eco-entrepreneur Horst Rechelbacher died in his home in Osceola, Wis., at the age of 72. He was diagnosed with pancreatic cancer in 2011 and is survived by his wife, daughter, and son. This article looks back on Rechelbacher’s life as an eco-warrior. 

Image Source: telegraph.co.uk

Rechelbacher, who will be celebrated as an eco-revolutionary, leaves the natural beauty world in mourning.
Austrian-born Rechelbacher was an organic beauty activist. His calling came during his early career as a celebrity stylist (he tended to the tresses of Sophia Loren, and ran four salons and a hairdressing school) during which a chemical build up in his salons - which caused him and his colleagues to become ill - shocked him into taking action. This was to be Rechelbacher's career, life, catalyst, and by 1968 - after a life-changing trip to India - he began developing a more natural line of products with his mother. Ten years later, those shampoos and conditioners were labelled Aveda.

A true visionary in the beauty industry, as WWD reports, Rechelbacher was among the first to seek fairtrade sourcing, non-toxic ingredients, organic certification, plant-based aromatherapy, and food-grade formulations for his new brand, Aveda.

So successful, and so cult-like, by 1997 Aveda was making $100 million a year. Rechelbacher, already moving on his next project, decided to sell the company to Estée Lauder for $300 million. Leonard A. Lauder, chairman emeritus of the Estee Lauder Cos., Inc, commented this week that Rechelbacher was a true visionary and unique human being: "Horst himself single-handily created a new industry."

Rechelbacher put a large chunk of the money from the sale into informing the rest of the world about the chemicals lurking in our beauty products, namely petroleum-based ingredients, often hidden in so-called 'natural' and 'organic' lines too.

Once his non-compete clause with Estée Lauder was up, the eco-warrior also launched his own line, Intelligent Nutrients - close to 100 per cent organic in its formulations, Intelligent Nutrients was a "reflection of what Horst wanted for himself," as Telegraph journalist Lucie Young reported back in 2011. In the same interview Young likened Rechelbacher's home, Deer View in Winconsin, to a "parallel universe, where green values are the norm."

Rechelbacher normalised organic beauty for the rest of us too. "Pesticides and insecticides make people sick and are destroying the planet," he once said. His solution was simple; "don't put anything on your skin that you can't eat." He was often seen seen drinking his Intelligent Nutrients hair sprays and serums which were all painstakingly formulated - I witnessed it first hand at one product launch in London.

"How he lived personally, he tried to express professionally," his widow, Kiran Stordalen, explained to WWD . "You see that in all the work he's done. It was a personification of who he was. He lived and breathed the mission and has left an incredible legacy."

The green beauty industry has lost a true visionary; "the planet has lost one of its most passionate friends. So have we," said a statement by Intelligent Nutrients. "To know Horst was to wake up to the world around you, to your own potential, to a new way of thinking." But as the statement adds, and the green beauty world hopes, "his impact truly does live on in salons, shops, fields and minds worldwide. And his mission continues."

Horst Rechelbacher founded the safe beauty products brand called Intelligent Nutrients (IN) after selling his skin care company Aveda to Estee Lauder Companies in 1997. ELC Executive Chairman William Lauder and the rest of the Lauder family are deeply saddened by the loss of a true visionary. Click here to learn how the global cosmetics conglomerate celebrates the legacy of Rechelbacher and the other founders of its brands.

REPOST: Estee Lauder keeps its billions in the family

Since its establishment, the Estee Lauder Companies has remained family-owned, with several of its leadership roles currently held by the founder's children and grandchildren. This article for the Houston Chronicle estimates how much an Estee Lauder heir is worth.
 

Aerin Lauder, chairman and creative director of Aerin LLC, attends the Paddle & Party for Pink fundraiser at the residence of Richard Perry, president of Perry Partners LP, in North Haven, New York, U.S., on Saturday, Aug. 17, 2013. The event raised $1.2 million for the Breast Cancer Research Foundation. Photographer: Amanda Gordon/Bloomberg *** Local Caption *** Aerin Lauder | Image Source: houstonchronicle.com

Aerin and Jane Lauder, the granddaughters of Estee Lauder, the founder of the beauty products company that bears her name, have become billionaires amid a bull market for cosmetics companies.

The sisters, who are among the youngest female billionaires in the world, each control more than 17 million shares of Estee Lauder Cos., according to filings with the U.S. Securities and Exchange Commission. The stock, which they own directly and through family trusts, is valued at about $2.6 billion, according to the Bloomberg Billionaires Index.


 Shares up 23 percent


The New York-based company's shares have risen 23 percent this year. An Estee Lauder spokeswoman declined to comment on their net worth. They have never appeared on an international wealth ranking.

"The company is continuing to take market share in the global beauty industry as investors flock to stocks which are best in their class," said David Wu, a luxury goods analyst at Telsey Advisory Group. "They're faring even better than their peers."

Aerin, 43, has worked at Estee Lauder for more than two decades and is the company's style and image director. She also runs a namesake fashion business. She's married to Eric Zinterhofer, a co-founder of private equity firm Searchlight Capital Partners.

 Jane joined the company in 1996. She was promoted to global president and general manager of Estee Lauder's Origins, Darphin and Ojon brands last year, according to a news release. She's married to Kevin Warsh, a former governor of the Federal Reserve Bank, and, at age 40, is the second youngest female billionaire in the U.S. behind Lynsi Torres, the 31-year-old owner and president of the In-N-Out restaurant chain.

The pair also serve on the company's board alongside their uncle, billionaire Leonard Lauder, and his son, William Lauder. The siblings' father, Ronald Lauder, has a fortune worth at least $3.5 billion, according to the Bloomberg ranking. Leonard Lauder, 80, the company's emeritus chairman and largest shareholder, has a net worth of $9.5 billion.

Left to right, Jane Lauder, Evelyn Lauder, Leonard Lauder, and Aerin Lauder pose at the 34th Annual FiFi awards ceremony hosted by The Fragrance Foundation in New York on Monday, April 3, 2006. Photographer: Adam Rountree / Bloomberg News | Image Source: houstonchronicle.com

 

Started in 1946


Estee Lauder started the company in 1946 by making skin creams on her kitchen stove and selling them to beauty salons. It became the largest closely held cosmetics company in the world before selling shares in a public offering in 1995. Lauder died in 2004 at age 97. Family members maintain more than 85 percent of its voting control. The company had $10.2 billion in revenue in the fiscal year ended June 30, selling products under brand names such as Aveda, Clinique and Bobbi Brown.

William Lauder, Estee Lauder's executive chairman, is credited for his great emphasis on keeping the heritage of the brand intact while effectively navigating the company's dual structure to reach its global growth aspirations. Visit this site to learn how he was able to surpass the challenges of running a family-owned business by sticking to the brand's core values and traditions.

REPOST: The Estée Lauder Companies Names Jane Lauder Global Brand President, Clinique

Jane Lauder's appointment as the Global Brand President of Clinique is part of Estée Lauder's organizational redesign efforts to drive the skincare brand's future success. The article offers an overview of Ms. Lauder's executive profile.

 Image Source: finance.yahoo.com

NEW YORK--(BUSINESS WIRE)--The Estée Lauder Companies Inc. (EL) announced today that Jane Lauder has been named Global Brand President, Clinique. Succeeding Ms. Lauder will be Stephane de la Faverie who has been named Senior Vice President/Global General Manager, Origins, Ojon and Darphin. Their new roles will become effective on April 1, 2014.

Both Ms. Lauder and Mr. de la Faverie will report to Lynne Greene, Group President of Clinique, Origins, Ojon, Aveda and Darphin. As announced in 2012, Ms. Greene was promoted to Group President as part of an organizational redesign to further align brands and provide high potential leaders with increased opportunities. Appointing Ms. Lauder to Clinique supports this evolution and will enable Ms. Greene to focus on the strategic direction of her brand portfolio and her other significant leadership responsibilities.

“Lynne’s vision combined with her industry-leading creativity has propelled Clinique’s exceptional global results and her close partnership with Jane will enable Clinique’s future success. Jane’s new role reflects her proven talent as one of our Company’s valued business leaders and innovative thinkers. Her ability to take brands and help maximize their global potential has been a key driver in our Company’s success,” said Fabrizio Freda, President and Chief Executive Officer, The Estée Lauder Companies.

In addition to supporting the Company’s organizational evolution, this appointment was a natural move for Ms. Lauder who earlier in her career was Senior Vice President, Global Marketing for Clinique where she was responsible for the brand’s overall strategic marketing and helped take the brand into new markets. As a result of her success in this role, Ms. Lauder later became Global Brand President, Origins, Ojon and Darphin.

“Jane is a very driven and talented leader. With her deep knowledge of today’s global consumer, I am delighted to have her back on the Clinique team where I know she will be extremely successful in advancing the long heritage of innovation,” said Lynne Greene. “Stephane brings significant experience in multi-brand leadership and expertise in skin care. His track record demonstrates his strength in successfully growing smaller brands and taking them into new markets. I am confident that both Jane and Stephane will bring outstanding growth and leadership to their brands.”

“It is our people who make our Company great. As Jane and Stephane continue on their Estée Lauder Companies journey, we grow as a Company—leveraging their strengths to drive our success,” said William P. Lauder, Executive Chairman, The Estée Lauder Companies. “Both are terrific leaders who consistently recognize global opportunities and most of all, inspire their teams to deliver excellence.”

Mr. de la Faverie joined The Estée Lauder Companies in 2011 as Senior Vice President, Global General Manager, Aramis and Designer Fragrances; shortly thereafter Lab Series and GoodSkin Labs were added to his responsibilities. Since joining the Company, Mr. de la Faverie has helped grow Aramis and Designer Fragrances’ profitability and expand the Company’s designer fragrance portfolio. Throughout his tenure in the beauty industry, Mr. de la Faverie has worked to build a number of skin care brands. Most recently under his leadership, the men’s skin care brand, Lab Series, successfully launched several major innovations globally.

Mr. Freda said, “Stephane is an ideal person to build on the success from Jane’s prior leadership. His keen ability to think globally and act locally will help the Origins, Ojon and Darphin teams continue to focus on their fastest-growing opportunities.”

In November of 2012, William P. Lauder and Fabrizio Freda announced an organizational redesign to drive the Company’s future success by further aligning brands, ensuring focus on the greatest opportunities globally and creating growth for talent worldwide. The appointments announced today are a continuation of this organizational evolution.

The Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in over 150 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, American Beauty, Flirt!, GoodSkin Labs, Grassroots Research Labs, Tom Ford, Coach, Ojon, Smashbox, Ermenegildo Zegna, Aerin Beauty, Osiao, Marni and Tory Burch.

An electronic version of this release can be found at the Company’s Website, www.elcompanies.com.

For William P. Lauder, executive chairman of The Estée Lauder Companies, success lies in one's ability to perform. Click here to learn how he was able to turn the cosmetics company into an $8 billion global enterprise by cultivating a culture of entrepreneurship and leadership excellence.

Estee Lauder announces a six percent increase in sales this year. The report can be found the official website of The Estee Lauder Companies.

NEW YORK--(BUSINESS WIRE)--Oct. 31, 2013-- The Estée Lauder Companies Inc. (NYSE:EL) today reported net sales for its first quarter ended September 30, 2013 of $2.68 billion, a 5% increase compared with $2.55 billion in the prior-year quarter. Excluding the impact of foreign currency translation, net sales increased 6%. Net earnings for the quarter were $300.7 million, compared with$299.5 million last year and diluted net earnings per common share were $.76, which was flat with the prior year.

Image Source: www.wkrb13.com

The fiscal 2014 and 2013 first quarter results included charges associated with restructuring activities of $1.2 million and $0.4 million, respectively. Additionally, in the fiscal 2013 first quarter, the Company recorded a pre-tax charge of $19.1 million ($12.2 million after tax), for the extinguishment of debt, equal to $.03 per diluted common share.

Excluding these charges in the first quarters of fiscal 2014 and 2013, net earnings for the three months ended September 30, 2013were $301.6 million, and diluted net earnings per common share were $.76, versus a comparable $.79 in the prior-year period. A reconciliation between GAAP and non-GAAP financial measures is included in this release.

Image Source: media.corporate-ir.net

Fabrizio Freda, President and Chief Executive Officer, said, “I’m pleased that our sales growth was in line with our target and we exceeded our earnings per share estimate for the quarter, despite softer-than-expected market conditions in certain countries. We achieved these results on the strength of our brands, many of which have introduced successful new innovations that we have supported with strong marketing programs. Our luxury brands, online and travel retail channels, and emerging markets continued to generate excellent results, lead our growth and contributed to broad sales gains in each of our geographic regions and major product categories.

“Looking ahead, we are well positioned for the important holiday shopping period, with the strongest slate of new fragrances in more than a decade, as well as other innovative products across our categories. We are focused on achieving superior top-line growth by driving sales momentum throughout the fiscal year with our product and service innovations, backed by creativity, product quality and comprehensive marketing programs. For the full fiscal year, we continue to expect to grow sales 6% to 8% in local currency, which is double our global prestige beauty estimate, and we are revising our earnings per share estimate to $2.80 to $2.87, after taking up the bottom of the range.”

Image Source: www.beautylish.com

Net sales growth during the quarter was particularly strong in the Company’s luxury and M•A•C brands, online and travel retail channels and overall in emerging markets. Many developed countries reported solid gains as well. The Company made further progress on its strategic goals and realized a solid improvement in cost of sales. As planned, the Company increased global advertising spending versus the prior-year quarter to support its biggest innovations and certain existing products

William Lauder is the executive chairman of The Estee Lauder Companies and is simultaneously serving as chief strategist, overseeing the company’s expansion in international presence and distribution channels and strengthening the brand portfolio. For more Estee Lauder news, go to this blog

REPOST: Lessons from Lauder

The Estee Lauder Companies' executive chairman recently spoke with the The University of Delaware about the company's shift from a family-owned corporation into a dual class-structured company. 

William P. Lauder (left), executive chairman of The Estée Lauder Companies, discusses corporate governance issues with UD's Charles Elson. (Image Source: University of Delaware)

8:55 a.m., Nov. 4, 2013--When Estée Lauder founded her business in the mid-1940s, it was all in the family; the company sold cosmetic and beauty products directly to salons and hotels. 

Fast forward five decades and her children and grandchildren took over the family business. But when they decided to open it to public investors, one of the first things they had to do was address the corporate governance.

“By going public we accomplished a couple things long term,” said William P. Lauder, executive chairman of The Estée Lauder Companies. “First of all we cleaned up the internal corporate governance structure. No longer were board meetings also known as Thanksgiving dinner.”

They also grew the company with attention to public investors, but were careful to maintain a long-term attitude toward investing.

“We needed to learn how to manage in this environment,” said Lauder. “Our management team was really expert at our business but not this one aspect. 

Avoiding “fashion” of the moment investment decisions based on a short-term focus was one of the key drivers for the family in deciding upon a dual class structure, said Lauder, or one in which the public has shares with less voting power.

To shed light on how such a controlled structure can influence the board and governance of a company, Lauder fielded questions from Charles Elson, director of the John L. Weinberg Center for Corporate Governance, during a Distinguished Speakers Series event held Tuesday, Oct. 22, on the University of Delaware’s campus in Newark.

“Because of its sunset provisions, among dual class structured companies, The Estée Lauder Companies is one of the best," said Elson, “so the question becomes how does the governance structure play in to this highly successful operation?” 

Read the rest of the article at The University of Delaware's website.

William Lauder is The Estee Lauder Companies' chief strategist. He is in charge of expanding the Company's international exposure and maintaining ELC's status as one of the leading beauty and fashion conglomerates worldwide. Check out this blog to learn more about ELC's leader and how he has managed to keep the company on top.

REPOST: Estée Lauder -- A Beauty Company To Be Reckoned With

This Forbes article reports how world-renowned beauty brand Estée Lauder may be well-positioned to take advantage of the ever-changing landscape of the beauty sector.

Image Source: stdavidshospicecare.org

 
Estée Lauder Companies manufactures and markets prestige skin care, makeup, fragrances and hair care products. The company was founded in 1946 by Joseph and Estée Lauder. Two years later they landed their first department store – Saks Fifth Avenue. From there the company expanded their products and customer base in the United States. In 1960 the first international account was opened, Harrods in London. Today Estée Lauder is a global company that has prominent counters in the world’s leading department stores.

Recently Estée Lauder reported net sales for the fiscal year ended June 30, 2013 of $10.2 Billion an increase of 5% over the $9.7 Billion achieved in the previous year. It places the company in the rarified club of companies generating $10 Billion plus in sales where it is now the world’s fourth largest beauty company. The top ten are:

1. L’Oreal 2013 beauty sales $28.3 Billion 
2. Unilever 2013 beauty sales $23.2 Billion 
3. Procter & Gamble 2013 beauty sales $20.0 Billion 
4. Estee Lauder 2013 beauty sales $10.2 Billion 
5. Avon Products 2012 beauty sales $ 7.6 Billion 
6. Shiseido Co. 2012 beauty sales $ 7.3 Billion 
7. KAO Corp 2012 beauty sales $ 6.8 Billion 
8. Beiersdorf 2012 beauty sales $ 6.5 Billion
9. Johnson & Johnson 2012 beauty sales $ 5.8 Billion 
10. Chanel 2012 beauty sales $ 5.3 Billion+

I have used in the conversion $1.28=1 Euro and $.0010094 = 1 yen +Industry estimate

Image Source: moodiereport.com

The company indicated that it had increases in every major category that includes skin care (+7%), makeup (+6%), fragrances (+4%), hair care (+6%). I show these increases in local currency terms as it shows the true strength of these classifications. Management has indicated that skin care is a strategic priority, and the gains were made through the introduction of the Moisturizing Soft Cream from La Mer and Even Better Eyes Dark Circle Corrector from Clinique (which I badly need myself.) There were also several other new skincare launches that were well received by the target consumer.

There were also new introductions in makeup, fragrances and hair care with such names as Zegna Uomo, DKNY Be Delicious So Intense, Tommy Hilfiger Freedom Men and Coach Love. Business was strong in most of the world – about 6%, with the Americas rising about 5% driven by a double-digit increase in Latin America.

A long time ago – maybe 25 years ago — I met Leonard Lauder, then chairman of the company – now Chairman Emeritus of the Board of Directors, who explained to me the secret of his business. While each brand had to have pleasing fragrances, the most important, and expensive, part of the fragrance business is the bottle. The design of the bottle was as important as what was in it. With great pride, Leonard Lauder showed me some of the beautiful bottle designs – even today this remains one of the hallmarks of his company.

The company has changed as lot since its early days. Leonard Lauder, son of Joseph and Estée, is still very active in the company (the Lauder family owns about 70% of the outstanding stock), but day-to-day management is now in the hands of Fabrizio Freda who joined the company in 2008 as President and Chief Operating Officer. In 2009 he succeeded William Lauder, Leonard’s son, as President and Chief Executive Officer; William then became Chairman of the Board and Executive Chairman.

Image Source: thegroundmag.com

The company has expanded the market for Estée Lauder under Freda’s leadership. Right now the company’s focus is on China, an underdeveloped country as well as Germany and France. Freda is focused on tapping new selling environments in locations such as airports where traffic is strong and travelers have a propensity to buy. As a manager, Freda’s approach is to bring everyone together as a team and to develop strategies together. Using this approach new products and innovative marketing strategies are being developed by mainstay brands such as Clinique, MAC and Bobby Brown which some may have thought mature. For instance, Bobby Brown, one of the company’s larger brands, is going after millennial customers by launching a You Tube channel called I Love Makeup that will feature makeovers as well as comedy. This marketing platform will be interactive – allowing Bobby Brown to communicate directly with youthful, social media savvy, customers. As the first brand to take such a step it will be watched closely by everyone, inside and outside the Estée Lauder Company. No doubt, other Estée Lauders will soon follow in their own unique way that aligns with each brand’s attributes and target customer tastes.

I am very impressed with how Estée Lauder keeps growin–one innovation at a time. Enough innovations, and the now $10 billion company will soon be much bigger.

William Lauder is the executive chairman of The Estee Lauder Companies. Under his leadership, the cosmetics company has expanded into new markets while maintaining the heritage of the family matriarch in its core strategy. Visit this Facebook page to learn how the company redefines beauty one step at a time.