Estee Lauder 2013 Annual Report Download - page 5

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3
Dear Fellow Stockholders,
The Estée Lauder Companies had another record year in fiscal 2013,
reaching $10 billion in net sales and achieving a 15 percent operating
margin. Nearly half a billion consumers around the world placed their
trust in the quality of our products and our people, and we expect that
number to grow in the future.
Our Company’s ongoing strong performance proves that our founding
principles — a dedication to quality, a passion for excellence and a deep
respect for our diverse global consumers — resonate strongly in the more
than 150 countries and territories where our products are sold. I want to
express my deepest appreciation for the outstanding leadership of our
President and Chief Executive Officer, Fabrizio Freda, the guidance of
our Board, and the dedication of our incredibly talented global workforce,
all of whom have made our success possible.
EXECUTIVE CHAIRMAN
WILLIAM P. LAUDER