Why did Est é e Lauder raise prices collectively for the second time this year for international brands, starting from July 1st
王俊杰2017
发表于 2024-6-11 17:41:32
177
0
0
Est é e Lauder has once again reported a price increase.
The reporter received confirmation today from Est é e Lauder Group that as part of the global price adjustment plan, starting from July 1, 2024, Est é e Lauder Group will raise the suggested retail prices of some of its brand products in China.
Est é e Lauder stated that the product pricing adjustment takes into account various factors, including raw material prices, production and operation costs, and transportation and warehousing costs. The group will regularly evaluate the suggested retail prices of products and make necessary adjustments to the suggested retail prices of some products in a timely manner.
This is the second price increase by Est é e Lauder Group this year. At the beginning of 2024, some of Est é e Lauder's products experienced a price increase. At that time, the reporter inquired about several brand counters as consumers, such as Est é e Lauder's small brown bottle eye cream, which was priced at 565 yuan, compared to 550 yuan before adjustment; The price of another 75ML collagen cream was 1080 yuan before the adjustment and 1130 yuan after the adjustment, but the price of platinum face cream did not rise.
Some consumers reported to the reporter that some high-end brands under Estee Lauder had increased "surprisingly". For example, a Tom Ford perfume he used previously was 1350 yuan when he bought it last year, and it has risen to 1950 yuan this year.
The reporter learned from industry insiders that international brand price adjustments have become a routine operation in the past few years, and brands will undergo a wave of price adjustments in January and February. In addition to Est é e Lauder, brands under the L'Oreal Group such as Coen's, YSL Saint Laurent, and Armani also raised prices for some of their products at the beginning of this year.
"The collective price increase of international brands is mainly due to the pressure of performance growth in the Chinese market, in addition to objective reasons such as raw material price increases. After the total sales volume cannot achieve growth, sales can be achieved through price increases." The founder of Yimei Digital Supply Chain Platform and daily chemical expert Baiyun Hu told reporters that price increases can be understood as a response to changes in the Chinese cosmetics market, and this has been proven to be an effective strategy. As Chinese domestic brands become increasingly expensive (high-end) in product structure, international brands must continue to widen the "value distance" with domestic brands by raising prices, thereby maintaining the value image of international brands at the consumer user level.
Est é e Lauder Group's Q2 2024 financial report (September 1-December 31, 2023) shows a 7% decrease in net sales and an 18% decrease in net profit. To this end, Est é e Lauder Group has begun implementing a profit recovery plan and will launch a large-scale restructuring plan during the third quarter, mainly to adjust business scale, including reallocating resources to businesses and brands that can bring growth. In addition, it plans to adjust some related positions globally, with a reduction of about 3 to 5% in positions.
These measures currently seem to be quite effective. The group recently released its third quarter financial report, which showed that in the three months ended March 31, 2024, the group's revenue has returned to positive growth, with the Chinese market, which has been dragging the group down for two consecutive quarters, also returning to low single digit growth. Est é e Lauder expects the group's organic net sales to recover double-digit growth in the second half of the 2024 fiscal year.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Zhuge Pu, International President of Est é e Lauder Group: Deeply Cultivating China for 30 Years, Still Full of Expectations for the Future
- Est é e Lauder responds to layoffs: there are no major adjustment plans in the Chinese market
- Est é e Lauder's Q2 2024 revenue is expected to decrease by 7% year-on-year, with plans to lay off at least 1800 employees worldwide
- Layoffs of 3% to 5%! Est é e Lauder: There are no major adjustment plans in the Chinese market
- Est é e Lauder has seen a price increase and a product increase of over 44%. Performance continues to decline, with plans to lay off thousands of employees
- Est é e Lauder: All products sold in China comply with relevant national standards and laws and regulations
- Est é e Lauder China still hasn't solved its biggest crisis right now
- Est é e Lauder appoints Rashida La Lande as Executive Vice President and General Counsel
- Est é e Lauder's stock price gave up earlier gains and fell 7.3% at one point
- Some cosmetics under Est é e Lauder have not been allowed to enter the market due to non-compliance with national standards or requirements
-
【ゆとりサイクルが始まった!歴史を鑑とする:FED金利調整と大統領選結果には“隠れた関連”があった】データによると、選挙日前に金利が引き上げられた5年間で、大統領やホワイトハウスを支配していた政党が4年連 ...
- 不正经的工程师
- 前天 21:56
- 支持
- 反对
- 回复
- 收藏
-
【トヨタが米国で約4万2000台のカローラCrossをリコール】トヨタ自動車は当時時間9月20日、2022年6月から2024年9月までに生産された一部のカローラCrossハイブリッド車を安全にリコールしていると発表した。リコー ...
- 伍六三
- 10 小时前
- 支持
- 反对
- 回复
- 收藏
-
インテルは9月19日、イスラエルの自動運転技術会社Mobileyeの大株主として、ビジネスの将来に自信を持っており、現在、同社の株式の多数を切り離す計画はないと発表した。 ...
- hecgdge4
- 前天 20:20
- 支持
- 反对
- 回复
- 收藏
-
【バークシャーがバフェット氏の「大弟子」に意外にも投げ売りされた信号は?】バフェット氏の主要な副手の1人で、バークシャー副会長で保険業務責任者のアジトジャーン氏は、所有しているバークシャーA種株式の半 ...
- 不正经的工程师
- 1 小时前
- 支持
- 反对
- 回复
- 收藏