Estée Lauder Companies (ELC) is opening a perfume laboratory in Paris, France, as it seeks to grow its fragrance business.
The atelier will focus on product innovation across ELC’s luxury and prestige fragrance portfolio, which includes Tom Ford, Jo Malone London, Le Labo and Kilian Paris.
Due to open by the end of 2024, according to ELC, it aims to enable greater collaboration with the company’s suppliers and manufacturers in the region to improve speed to market.
“Serving as an innovation enabler across our fragrance portfolio, its location will give us direct access to some of the best creative design resources, industry talent and local suppliers and perfumers, to help continue to accelerate our momentum in this exciting category,” said Stéphane de La Faverie, ELC’s Executive Group President.
ELC’s fragrance division has been one of its strongest performers in recent years, reporting a 14% increase in sales in the company’s 2023 financial year results last month.
However, the company saw an overall sales slump due to reduced travel retail sales and the company’s acquisition of the Tom Ford brand in 2022.
“ELC’s continued commitment to its long term fragrance strategy is built on this extraordinary heritage of creativity and innovation,” added Fabrizio Freda, ELC’s CEO.
“The power of the company’s fragrance portfolio, bolstered by the strategic support of the atelier, positions the company well to drive future growth and value in this dynamic and fast-growing category.”