Estée Lauder names new N America, Asia leaders, "elevates" China ops
The Estée Lauder Companies (ELC) had some big executive announcements this week spanning its domestic US market and Asia/Pacific. But perhaps the most interesting part of the news was the fact that it’s “elevating” its Chinese market to report directly into the International organisation.
It’s a further sign of just how important the Chinese market is and how its inclusion in the wider region is no longer enough.
The company said “China is one of the most dynamic markets globally for prestige beauty and is strategically significant for [it] as a source of deep inspiration for product development, marketing excellence, and consumer insights. [ELC] continues to believe in the long-term growth fundamentals in the market and expects to deepen its commitment to China and Chinese consumers”.
And it added: “Today, the company serves millions of consumers in over 600 cities across mainland China, with incredible potential for the future. Elevating ELC’s China business will enable increased speed, local decision-making, and global collaboration to advance the company’s leadership in this exciting market and to successfully deliver high-quality products and services for the Chinese consumer.”
As a result, it has named Joy Fan as President and CEO, China, overseeing the mainland China business.
She’s led the China affiliate since 2012 and has overseen huge growth. The company said “her outstanding leadership while spearheading the direct-to-consumer strategy in China has resulted in the growth of multiple brands in ELC’s portfolio and the development of key channels. Additionally, under her guidance, the China affiliate has grown into an industry leader in social media and digital marketing”.
Meanwhile, other key leadership changes include Matthew Growdon being named Senior VP and General Manager Asia-Pacific.
He has nearly 20 years of experience at ELC, which has included broad strategic and global management roles across Asia, Europe, Africa and the US, as well as for the company’s global brands, including Estée Lauder and Tom Ford Beauty.
“A strong brand-builder with deep Asia/Pacific expertise”, he has led the strategic Japan market in his current role as General Manager Japan since January 2020.
The company expects the region to “continue to be a significant area of strategic focus and future opportunity, as it includes some the largest affiliates globally, high-potential emerging markets, mainly across Southeast Asia, and other key markets of influence”.
Growdon will oversee all 12 markets in the region, working closely with affiliate General Managers.
He takes the role as the exec who’s now going to oversee the firm’s hugely important North America market exits Apac. Mark Loomis, currently President, Asia/Pacific, will be appointed President, North America, effective February 1. He will report directly to Fabrizio Freda, President and CEO, and he will remain a member of ELC’s Executive Leadership Team.
He will have accountability for top- and bottom-line results in the US and Canada across brands and channels and “will work closely with ELC’s Group and Brand Presidents and Function leaders on innovation pipeline sufficiency, elevated brand equity-building, and resource allocation to the largest growth opportunities”.
He’s had an “exemplary” 25-year career with ELC, much of it spent in Asia, “with deep global leadership experience spanning the company’s brands, channels, regions, and affiliates. In these roles, he has delivered exceptional results, successfully leading strategically significant beauty markets, including ELC’s businesses in Canada and Japan”.
The company also said that in his Apac role, he’s “led the region to extraordinary new heights through regional strategies that support business acceleration and commercial operations to drive growth across all 13 Asia/Pacific affiliates”.
And he “was instrumental to the company’s multi-year transformation initiative focused on elevating and growing the company’s business in the Asia/Pacific region and winning with the Chinese consumer domestically and abroad”.
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