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Makeup, millennials drive Estee Lauder sales surge

Published Thu, Nov 2, 2017 · 09:50 PM
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Bengaluru

ESTEE Lauder shares hit a record high on Wednesday after the cosmetics maker forecast holiday-quarter sales ahead of market expectations, banking on demand for recently acquired makeup brands that are popular with millennials.

The strong forecast followed better-than-expected sales and profit in the first quarter ended Sept 30, as sales in the Asia-Pacific region and Europe soared by 18 and 20 per cent respectively.

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