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bonyadi magazine
The Ordinary enters China via Sephora
Affordable skincare brand The Ordinary has entered the Chinese market this month through an exclusive partnership with LVMH-owned beauty retailer Sephora
Available from February 13, the American skincare brand is retailing 24 products for China, including localised and new offerings. In addition to Sephora, the no-frills beauty brand will also launch on Tmall and Douyin in July
Parent company Estée Lauder’s $12-billion acquisition of The Ordinary last year highlights the New York cosmetic giant's focus on targeting younger consumers and tapping into the growing masstige beauty market, including in the East
Earlier this month, Estée Lauder said it is expanding its restructuring plan that would include up to 7,000 job cuts, and reported a smaller-than-expected drop in second-quarter sales
The company has been implementing restructuring programs, which include a series of changes in the executive team after Stéphane de La Faverie took on the role of chief executive officer in January
At the time of reporting, the company said sales fell 6% to $4 billion in the quarter, compared with analysts' estimates of 7.3% drop to $3.97 billion, as per data compiled by LSEG
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