Estee Lauder 2010 Annual Report Download - page 57

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Another key element of our strategy in fiscal 2010 was to address our underperforming brands.
Our
fragrance division made good progress in improving profitability. For Prescriptives, we
made the difficult,
but necessary, decision to discontinue the wholesale distribution of the brand worldwide.
Under the circum-
stances, we are proud to say that we executed our plan flawlessly. We supported the retailers through the
four-month transition and adapted some of the Prescriptives products, trademarks and formulas for use by
our other brands. Using social and digital media, we effectively maintained connectivity with Prescriptives’
loyal consumers and retailers and continue to sell the brand’s top-selling products online for now. We also
retained many of the brand’s talented employees by transferring them to other brands while tightly manag-
ing the cost of the shutdown.
56
optimizing
our
portfolio
THE EST{E LAUDER COMPANIES MAKES 1.2 BILLION
PRODUCTS EVERY YEAR.
RIGHT: Tom Ford Private Blend Lip Color Collection.