Estee Lauder 2005 Annual Report Download - page 7

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06
In this Annual Report, a comprehensive strategic review has been written by our Chief Executive Officer, William Lauder.
I am personally very pleased with the growth strategy that he has outlined for our Company. There is little that I can add to
his plan, which is well under way as you read this. My goal is to call attention to a few global trends and market forces that
offer context and perspective to this excellent plan.
In the past 12 months, I have visited over 15 markets throughout the world, all of which are in various stages of development.
The most compelling trend I see is the power of our brands in all countries, from the most mature and well-developed
to those that are just emerging. For example: M.A.C has just launched with great success in both China and India;
Crème de la Mer has gotten off to a wonderful start in China; Estée Lauder is about to launch in Vietnam, following
a successful Clinique launch in that same market; Jo Malone is a great success in Australia, and Aveda has celebrated its first
anniversary in Japan.
CHAIRMAN’S
MESSAGE
LEONARD A. LAUDER
Dear Stockholders: