Estee Lauder 2005 Annual Report Download - page 10

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09
• In May 2005, we announced a collaboration with Missoni, the Milan-based fashion house known for its vibrant knitwear
and enduring fashion style. The relationship will advance several business objectives, including our European growth
strategy and our partnerships with leading fashion designers.
BUILDING TALENT WITH PASSION
Creating an environment rooted in achievement and committed to personal excellence is a top priority at The Estée Lauder
Companies. Behind all of our brands are highly talented, imaginative and dedicated people.
We are committed to strengthening our bond with employees. We seek to offer a stimulating and gratifying work environ-
ment that will help attract and nurture the very best talent in the industry. We want to preserve our impressive retention
rates and are proud that the average length of service in our Company is over 10 years. Moreover, we encourage upward
mobility. There are many examples throughout the Company of employees who began on the shop floor or behind the
counter and rose through the ranks.
A COMPANY COMMITTED TO GROWTH
Our goal is to be a company with a growth rate that outpaces the global beauty marketplace. There are manyways we can
accomplish this ambition.
• Technological excellence. This year Estée Lauder, Clinique, Prescriptives and Rodan + Fields all successfully launched
polypeptide skin care products appropriate to their respective brands. We excelled in capturing a leading edge in the
anti-aging category by sharing technology while maintaining brand integrity. This experience highlights the fact that we
have a competitive asset in our technology brain trust that can be leveraged to position our portfolio of brands and
products strategically in the market.
• Leadership in innovation. We also have a competitive asset in our creativity and ability to capitalize on trends. Consider
the following: In the United States alone, someone turns 50 years old every six seconds, and a recent survey showed that
women view flawless skin as the second most important luxury (after a vacation). Several of our skin care brands have
understood these trends and strengthened their offerings in the anti-aging and repair categories. La Mer for example,
launched a limited-distribution product called The Essence.
WE HAVE A COMPETITIVE ASSET IN OUR CREATIVITY
AND ABILITY TO CAPITALIZE ON TRENDS.