The Estée Lauder Companies (ELC) President and Chief Executive Officer Stéphane de La Faverie reaffirmed the US beauty powerhouse’s commitment to travel retail with a personal appearance at the company’s opening event (28 September) during TFWA World Exhibition in Cannes.
His message to attendees at the Hôtel Barrière le Majestic was clear and powerful. “The Estée Lauder Companies believes in travel retail. “We believed in it yesterday, we believe in it today and we will believe in it tomorrow.”
Attending his first Cannes show since assuming the CEO role in 2025, de La Faverie outlined the channel’s importance within ELC’s Beauty Reimagined strategy.
He also highlighted opportunities to accelerate growth through consumer recruitment, brand building and experiential retail.
Having begun his career in Americas travel retail, de la Faverie opened by reflecting on his personal connection to the business. “Travel retail has always had a special place in my heart,” he said.
“I have always admired and believed in its unique power to connect brands with consumers from around the world. It is about discovery, emotion and inspiration.”
He thanked partners for their longstanding support before sharing an overview of the transformation the company has undergone with its Beauty Reimagined rejuvenation programme.
“Over the past 18 months, since I took over as CEO, we have gone through significant changes across the company and around the world. We introduced our Beauty Reimagined vision, and that strategy is now in motion and delivering results,” he explained.
“Beauty Reimagined is about re-establishing sustainable sales growth, rebuilding profitability and great partnerships, supported by what I believe is the most beautiful portfolio of prestige beauty brands in the world.”
De la Faverie said the company ias witnessing recovery momentum across the business. He said: “We are seeing this transformation pay dividends, gaining market share across many markets and brands. This is only the beginning. You can count on us to continue accelerating and building on Beauty Reimagined {main story continues following the panel below}.
On the record with Stéphane de la FaverieOn Beauty Reimagined: Beauty Reimagined is more than a moment in time. It is a vision to put the consumer back at the centre of everything we do and work more closely together to transform the beauty industry. On the role of travel retail: I believe the opportunity in travel retail extends far beyond its role as a sales channel. It is a global growth engine. On ELC’s commitment to the channel: ELC believes in travel retail. We believed in it yesterday, we believe in it today and we will believe in it tomorrow. On the power of experiential retail: Price is no longer the only differentiating factor. Increasingly, experiences are what consumers want. As more younger consumers, particularly Gen Z, travel around the world, experiences are a primary motivation. On the 80th anniversary of the company: We are turning 80 years young. I say ‘80 years young’ deliberately. We want to act as the new kid on the block, and that will shape our pragmatism and approach to the business. On his priorities for travel retail: Looking ahead, our focus is clear: we want to capture incremental growth for the company. There is plenty of growth available for all of us, but we need to continue elevating the desirability of our brands. |
“Beauty Reimagined is more than a moment in time. It is a vision to put the consumer back at the centre of everything we do and work more closely together to transform the beauty industry.”
De La Faverie thanked retail and media partners and acknowledged his teams and the role they played to bring the strategy to life. He said: “To our teams, particularly those in travel retail, thank you for your resilience, passion and belief in what we are doing to create the best consumer-centric beauty company in the world.”
He also paid tribute to the late Leonard Lauder, who passed in 2026, recalling the direct encouragement given to him: “Just do it.”
“With all of you, I know we will do just that,” de la Faverie said.
Travel retail as a global growth engine
Travel retail’s power as a brand building and recruitment channel creates many benefits that extend into domestic markets, de la Faverie noted.
“I believe the opportunity in travel retail extends far beyond its role as a sales channel. It is a global growth engine.
“It is also one of the most powerful channels for building brand equity. I always describe it as a ‘window to the world’ for every one of our brands.”
“It allows us to recruit consumers, who often discover our brands for the first time in travel retail and then repurchase in their local markets. It is not about the travel retail consumer but the beauty consumer who we are all working together to delight day in and day out.”
For de la Faverie, the channel offers plentiful growth prospects. He said: “I see tremendous opportunities around the world. Whenever I visit our airports and downtown stores, I see potential in both the east and the west. That is also why we have transformed our team: to be closer to consumers and understand what they are looking for.
“In the West, we see plenty of opportunities for our fragrance portfolio. Brands such as Tom Ford, Jo Malone London, Le Labo, Kilian Paris are flying. In the east, we continue to build on our very strong position, from Seoul to Hainan and Sydney.”
ELC’s revised travel retail structure supports that approach. The London team manages the western hemisphere business, spanning the Americas and Europe, while the Singapore team brings the company closer to consumers in the east.
De La Faverie emphasised the need to be agile and adapt swiftly to varying market conditions. “At the end of the day, one size does not fit all,” he explained. “Travellers and markets are different, and the way consumers discover beauty is changing. We need to adapt how we speak to and engage with them.
“Our job is to understand those differences and the volatility of the channel, while recognising its tremendous opportunity. Travel retail is the biggest channel in the world with more than 10 million travellers who are a captive audience.”
“Looking ahead, our focus is clear: we want to capture incremental growth for the company. There is plenty of growth available for all of us, but we need to continue elevating the desirability of our brands,” he said.
“We will do that with you every day. We will create unique initiatives and take a more tailored, pragmatic approach to the channel and to how we present our brands.”
Betting on experiential retail
Experiential retail is central to de la Faverie’s brand desirability mission.“Price is no longer the only differentiating factor,” he observ ed. “Increasingly, experiences are what consumers want. As more younger consumers, particularly Gen Z, travel around the world, experiences are a primary motivation.”
“We want to give consumers more reasons to discover our brands. To do that, we need to continue collaborating to bring more experiences to the channel.”
He added: “You can count on The Estée Lauder Companies to build unique experiences and bring to travel retail the kinds of initiatives we have developed in local markets.”
Going back to the price advantage the channel offers, de la Faverie said: “Price remains important, and we will continue working to build on that competitive advantage. But it is no longer the only factor.”
Reaffirming the company’s belief and commitment to travel retail, he added; “You can count on us to continue investing in the channel around the world. That is one of the reasons I am here today: I wanted you to hear it directly from me. Travel retail is central to our strategy.
“The acceleration we saw in fiscal 2026, which we have just finished, and the momentum at the start of our new fiscal year also reflect the fantastic work we are doing together in this channel. I see the potential, and I know you see it too. We are aligned.”
De La Faverie highlighted the breadth and power of ELC’s portfolio. He said: “I believe in the power of the brands we are building, We have more than 25 brands, each with different strengths around the world. There is so much more we can bring to consumers.
“The opportunity extends beyond Estée Lauder, Clinique and La Mer to our wider portfolio, including Tom Ford and Le Labo. We are also seeing MAC coming back strongly around the world,” he said.
“Travel retail is special to me, to you and to the company. We have the portfolio; you have the channel and the consumer relationships. Together, we can continue building the business.”
80 years young
Closing his address, de la Faverie explained how ELC’s 80-year beauty heritage is informing a renewed emphasis on innovation, agility and growth for its next chapter.
He said: “We are turning 80 years young. I say ‘80 years young’ deliberately. We want to act as the new kid on the block, and that will shape our pragmatism and approach to the business.
“We have moved from our Profit Recovery and Growth Plan (PRGP) to a focus on growing together and pursuing new opportunities.
“This is an exciting moment for us and for you as partners, as we work together to build a great business.” ✈
