Estee Lauder 2011 Annual Report Download - page 70

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Our excellent performance has validated our strategy and as we look toward the future, our strategic vision
remains unchanged. While we are encouraged by our growth and momentum, we continue to seek new
opportunities and ways to incorporate feedback from consumers and customers across the overall prestige
beauty landscape.
As we embark on the next phase of our strategic journey, we will continue to be creativity-driven and
become even more consumer-inspired. We will concentrate our innovation efforts and “pull” investments
on the largest market opportunities, and continue to execute our successful “launch and leverage”
approach. Although the road ahead will be challenging at times, we are confident in the path we have
chosen. Part of success and managing a company through momentum is knowing what to change, and
what not to change.
A careful analysis of our competition and the changing landscape shows that there are three highly
contested areas: skin care, the Chinese consumer and digital. As the leader in prestige beauty, we will
continue investing to build our competitive advantage in these areas. At the same time, we will continue to
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