Estee Lauder 2014 Annual Report Download - page 5

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3
Dear Fellow Stockholders,
Prestige beauty is an approachable luxury, and the success of our Company is
a direct result of the breadth of our distinctive prestige brands, each of which
seeks to address particular consumer needs, preferences and aspirations. We
are masters at capturing opportunity and creating different points of entry for a
consumer to participate in the luxury experience, perhaps for her first time. I am
particularly proud that as we continue to grow and strengthen our Company, we
have maintained a culture unique to us — one that values the individual leadership
and education of our diverse and talented workforce and our unwavering focus
on driving creativity and innovation in every aspect of our business.
In fiscal 2014, we achieved another record-breaking year. With the valued
partnership and strategic leadership of President and Chief Executive Officer
Fabrizio Freda, our Executive Leadership Team, and the guidance and support
of our Board of Directors, our Company executed its strategy with excellence,
captured opportunity around the world, strengthened brand equity and continued
to drive our business’s growth. We determined where, when and how to create
consumer desire by moving boldly, matching products to marketplace through
our thoughtfully curated brand portfolio, anticipating challenges and responding
to market changes.
As we continue to grow our distribution channels, such as freestanding stores,
specialty multi-brand retailers and Travel Retail, we have also made it our
priority to meet and exceed the expectations of our consumers who have
increased access to, and aptitude for, technology. We believe e-commerce and
m-commerce will remain the fastest-growing prestige beauty channel for years
to come. We were among the first beauty companies to enter into e-commerce
and m-commerce, and our brands have developed considerable skill in leveraging
these platforms to attract new consumers and expand the High-Touch shopping
experience for existing consumers.
EXECUTIVE CHAIRMAN
WILLIAM P. LAUDER