Estee Lauder 2013 Annual Report Download - page 92

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90
While Prestige Beauty remains robust, it
currently represents only 30 percent of the
global beauty market. This means we have an
enormous opportunity to convert millions of
new consumers from mass channels and brands.
Thanks to our outstanding new products,
effective advertising and High-Touch services,
we once again posted sales growth that we
believe was greater than global Prestige Beauty,
and achieved strong across-the-board sales
gains in each of our geographic regions and
major product categories. We expect our strong
momentum to extend into fiscal 2014.
We are positioning ourselves to gain share in the
fastest-growing areas in Prestige Beauty. Several
demographic trends support our growth
outlook. Emerging markets, for example, where
more women are entering the middle class and
enjoying higher disposable incomes, present a
great opportunity for us. We have had robust
sales gains in many of these markets, including
China and the Middle East, and we expect this to
continue in the next fiscal year. At the same
time, the world’s population is aging, which
increases the desire for many of our anti-aging
skin care products.
Marni introduced its first fragrance in Spring 2013.