Leading Beauty Forward, The Estée Lauder Companies Inc.’s multi-year initiative, has been in the works since May of 2016. According to the company, it is to include a number of initiatives and restructuring to be implemented through fiscal 2021.
Leading Beauty Forward is expected to total between $600-$700 million dollars before tax.
Recently, Estée Lauder approved certain initiatives under Leading Beauty Forward that included:
- A net reduction in its workforce, including position eliminations, the re-leveling of certain positions and an investment in new capabilities
- Optimizing its supply chain and product development processes
- Concentrating on a shift from traditional to social and digital marketing strategies to provide enhanced consumer experience, as well as to support expanded omnichannel opportunities