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Stéphane’s Way

Amid his draconian Estée Lauder turnaround effort, C.E.O. Stéphane de La Faverie has laid off thousands of employees. But no one thought he’d come for global creative director Matthew Parr, who was sent packing on Monday.

Stephane de La Faverie
So far, though, the most striking difference between the de La Faverie era and the tenure of his predecessor, Fabrizio Freda, comes down to morale: People actually like de La Faverie. Photo: Jaimi Joy/Bloomberg/Getty Images
Rachel Strugatz
August 27, 2025

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Eight months since Stéphane de La Faverie took over as C.E.O. of Estée Lauder Companies, the business is finally showing signs of a rebound, with the company’s stock up close to 20 percent year to date. Sure, net sales were down by 12 percent for the quarter ending June 30, and earnings for the year are expected to take another $100 million hit owing to tariff-related costs, but there have been market share gains in China, Japan, and the U.S. to offset the losses. During E.L.C.’s recent earnings call, de La Faverie also shouted out the success of the company’s belated integration with Amazon, which has launched 11 E.L.C. brands since March 2024. A person who follows the company closely remarked that “to achieve market share gains in the U.S. is a big deal.”