Estee Lauder 2015 Annual Report Download - page 8

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WILLIAM P.
LAUDER
EXECUTIVE CHAIRMAN
Dear Fellow Stockholders,
The driving force behind our Company’s success year after year is our strong focus on
growth for the long-term. Each decision, each new idea and each acquisition is a
strategic step on a long runway that fuels momentum for the future. This
beautiful
momentum
is a direct result of a strategy executed with excellence by our talented and
diverse global workforce, which is guided by the outstanding strategic leadership of our
President and Chief Executive Of cer, Fabrizio Freda, our world-class Executive
Leadership Team and the wisdom of our Board of Directors.
Against a backdrop of economic challenges, I am proud that  scal 2015 was another
year that resulted in many notable achievements for our Company. Among them was the
expansion of our portfolio through the acquisition of four brands: RODIN olio lusso, Le
Labo, Editions de Parfums Frédéric Malle and GLAMGLOW. As a Company founded by
an entrepreneur, we understand how essential the entrepreneurial spirit and drive are to
any brand. We look for this when we consider any potential acquisition—whether in skin
care, makeup, fragrance or hair care. We believe that the brands we acquired this past
year have the potential to join the ranks of M·A·C, Jo Malone London and La Mer, all of
which began their journeys as small brands and today are formidable, global competitors
in the prestige beauty space. It is not only the brands that attract us, but the vibrant
personalities behind them. We give our new brands resources, tools and capabilities that
they need to grow sustainably, but we also work to maintain each brand’s unique identity,
heritage and philosophy. We love learning from them, as they learn from us.
Fiscal 2015 was also an exciting time for the convergence of new communication
channels, digital commerce and service. These platforms are fully interconnected and
increasingly in uencing consumers’ buying behaviors. We believe we are well-
positioned to take advantage of the opportunities afforded to us by the rapid pace of
global
digital techniques that are revolutionizing how more and more consumers
experience and interact with brands. #TheEstéeEdit, the trailblazing online initiative