Estee Lauder 2013 Annual Report Download - page 9

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7
Dear Fellow Stockholders,
As a high-growth company focused exclusively on Prestige Beauty,
The Estée Lauder Companies is well-positioned for continued global
success. Through our distinctive portfolio of 30 aspirational brands, we
serve the world’s most discerning consumers and retailers, delivering
breakthrough products and High-Touch services through carefully
selected, diverse distribution channels.
Our innovative products and services, combined with impactful, locally
relevant marketing and advertising, drew consumers across the world to
our brand counters, freestanding stores, Travel Retail locations and fast-
growing digital platforms. We continued to focus on innovating and
delivering breakthrough products and services to our consumers around
the world. And thanks to the tremendous leadership and focus of our
40,000 employees, we have executed our strategy with excellence while
staying true to our values.
We have achieved remarkable growth in the four years since we
implemented our transformative strategy. Last year was particularly
exciting as we reached $10 billion in net sales — a historic milestone for
our Company. At the same time, we achieved a 15 percent operating
margin and established new records for net earnings, stock price and
market capitalization, creating exceptional value for our stockholders.
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
FABRIZIO FREDA