Estée Lauder Plans Large Expansion In Asia

Estée Lauder said it plans to hire thousands more staff in the next seven years in Asia as part of the cosmetics company’s expansion of its retail operations in the region. Company chairman William Lauder said the cosmetics manufacturer gets 42 percent of its revenue from the United States, while 37 percent comes from Europe, Middle East, and Africa. Asia-Pacific accounts for 21 percent. Online sales account for only a small part of the company’s sales, with retail stores and beauty salons being responsible for majority of total sales. While men’s grooming products account for only 5 percent of sales, the segment is expected to see stable growth, according to Lauder.