ELC Named to Fast Company's List of Most Innovative Companies 2024
March 22, 2024 at 11:27 am EDT
Share
The Estee Lauder Companies (ELC) has been named to Fast Company's list of the world's most innovative companies of 2024 for Corporate Social Responsibility. The award is given in recognition of WRITING CHANGE, the company's literacy initiative with National Youth Poet Laureate and Global Changemaker Amanda Gorman.
ELC is one of 10 companies recognized for Corporate Social Responsibility initiatives by Fast Company, for the impact they have had in their global or local communities.
The award honors the impactful work of the literacy-based organizations behind WRITING CHANGE: American Library Association, Girls Write Now, MIGIZI, We Need Diverse Books and WriteGirl. Each with distinct perspectives on advancing literacy in their communities, these organization are known for workshops and mentorship, creative programs that combine art and writing, bringing books and authors to schools, and much more to support the next generation.
WRITING CHANGE has been highlighted for its efforts to support grassroots organizations dedicated to advancing literacy as a pathway to equality, access, and social change through the power of young voices. The initiative, launched in 2021, and with plans to expand in its third year, continues to use access, advocacy, and artistic expression as guiding pillars for its grantmaking and programming. WRITING CHANGE is an extension of the values and vision of ELC's founder, Mrs. Estee Lauder. In highlighting the program, Fast Company shared, 'Estee Lauder was a visionary founder who built an iconic cosmetics company at a time when most women did not start companies or even have jobs outside the home. Today, her company, which is now valued at $50 billion, invests in future generations of young women who could similarly defy expectations if given the opportunity.'
Each year, Fast Company shares this highly anticipated and competitive list, highlighting companies that 'push for substantial change to the sector in which they operate or find ways to lessen the impact of their own operations.'
See the full list of honorees and read more about ELC's recognition.
The Estée Lauder Companies Inc. is one of the 1st world cosmetics groups. Products are sold under brands (Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, Bobbi Brown, La Mer, Aveda, Jo Malone London, Bumble and bumble, Darphin, Smashbox, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, Kilian Paris, Too Faced, Dr. Jart+, DECIEM and The Ordinary) and under brands of licenses (Tommy Hilfiger, Donna Karan New York, DKNY, Michael Kors, Tom Ford, Dr. Andrew Weil, Ermenegildo Zegna and AERIN). Net sales break down by family of products as follows:
- skin care products (58.4%);
- make-up products (25.9%);
- perfumes (11.9%);
- hair care products (3.5%);
- other (0.3%).
At the end of June 2021, products are marketed through about 1,600 outlets worldwide, distributed between large stores, perfume shops, pharmacies, beauty institutes and exclusive shops, and via Internet.
The group has 10 production sites worldwide.
Net sales are distributed geographically as follows: Americas (23.4%), Europe/Middle East/Africa (42.8%) and Asia/Pacific (33.8%).