Saluting Innovation @ Estee Lauder

Saluting Innovation at Estee Lauder for their unique globalization strategy. They are tackling retail distribution in emerging markets where there is lighter competition for luxury goods. Estee Lauder sees their MAC brand as the key to emerging market growth due to its unrivaled popularity in India, Brazil, South Africa, and Turkey. The most recent MAC store opened in Lagos, Nigeria where western-style retailers are so scarce that affluent consumers are forced to shop for prestigious brands overseas. Historically, once the MAC brand has established a foothold in a market, Estee Lauder sends in its other brands such as Clinique and Aveda. The New York based company generated 63 percent of its revenue abroad in fiscal 2012 and continues to grow rapidly outside of its home market. In the past five years, Estee Lauder's stock price has more than tripled, compared with a 40 percent gain for the Standard & Poor’s 500 Consumer Staples Index. We salute Estee Lauder for this commercial innovation, for daring to take risks, and for expanding the MAC footprint on a global scale.