The Estée Lauder Companies (ELC) has announced the creation of an "Atelier" in Paris, a development center designed to boost its innovation and strategic ambitions in luxury and prestige fragrances.
ELC intends to capitalize on the vitality of its fragrance business, whose reported net sales have increased by almost 40 % since the pre-pandemic fiscal 2019. The company, which has recorded 10 consecutive quarters of double-digit organic growth through to the end of fiscal 2023, plans to open a dedicated perfumery "Atelier" in Paris by the end of 2024.
This Atelier will focus exclusively on fragrance innovation and know-how, and will provide global support for ELC's portfolio of fragrance brands, close to partner fragrance houses, ingredient suppliers and its manufacturing network. Led by an agile team of fragrance experts, it will deepen co-creation and collaboration with external partners to accelerate the time-to-market of innovative products, packaging and concepts.
"We are delighted to announce the creation of our new Atelier, said Stéphane de La Faverie, Group Executive Chairman. As a catalyst for innovation across our fragrance portfolio, its location will give us direct access to some of the best creative design resources, industry talent and local suppliers and perfumers, to continue to accelerate our momentum in this exciting category."
ELC's fragrance portfolio includes Jo Malone London, Tom Ford, Estée Lauder, Le Labo, Clinique, Kilian Paris, Editions de Parfums Frédéric Malle, Aerin Beauty, and Aramis.
"ELC's ongoing commitment to its long-term fragrance strategy builds on this extraordinary heritage of creativity and innovation, said Fabrizio Freda, president and CEO. The strength of the company's fragrance portfolio, reinforced by the strategic support of l'Atelier, positions the company well to drive future growth and value in this dynamic and growing category, enabling ELC to continue to bring exceptional luxury and prestige fragrances to consumers around the world."
