The Estée Lauder Companies Inc.
U.S. luxury beauty group The Estée Lauder Companies Inc. has announced the promotion of Michael Bowes to Executive Vice President and Chief People Officer, succeeding Michael O’Hare, who is set to retire. The appointment will take effect on April 1.
Left: Michael Bowes; Right: Michael O’Hare
With this personnel change, the company’s Chief Human Resources Officer (CHRO) title has officially been updated to Chief People Officer (CPO). In his new role, Michael Bowes will oversee all global human resources functions, including talent management, career development, and organizational design. His leadership will focus on a people-centric approach, fostering a strong corporate culture to drive the company forward.
Michael Bowes joined the company in 2015 and has since led global talent acquisition and end-to-end talent management, including executive talent management, development, and corporate learning. Together with his team, he successfully implemented a new internal talent marketplace, employee listening surveys, and leadership development programs, all aimed at fostering individual growth and an inclusive corporate culture.
Before joining Estée Lauder, Michael Bowes was Managing Director of the Executive Search division at consulting firm Karen Harvey Consulting. He has also held senior talent management and HR business partner roles at renowned companies such as Coach, Nike, Tommy Hilfiger, Cole Haan, and Saks Fifth Avenue.
Over the next few months, Michael O’Hare will ensure a smooth transition and, following his retirement, will continue to work closely with the company’s leadership team on executing and implementing profit recovery and growth plans.
Michael O’Hare joined Estée Lauder in 2013 and played a key role in redefining the company’s HR functions to support global growth. Under his leadership, the company strengthened talent development programs, introduced enterprise-wide learning platforms, and enhanced employee engagement. He was instrumental in launching the Corporate Learning and Leadership Development team and democratizing learning opportunities through LinkedIn Learning. Additionally, his initiatives in talent management brought forth several innovations, including ELC Grow (an internal talent marketplace) and a data-driven approach to talent acquisition and resource allocation.
Victoria Beckham Beauty
Luxury beauty brand Victoria Beckham Beauty, founded by Victoria Beckham, has announced that former Global Chief Marketing Officer Lauren Edelman will replace Katia Beauchamp as Chief Executive Officer. The company stated that Katia Beauchamp “believes now is the right time to step away and focus on new opportunities.”
In a statement, Victoria Beckham Beauty said, “Lauren Edelman will succeed Katia Beauchamp, with whom she has worked closely over the past 18 months. Lauren brings an impressive background in luxury brands, having held roles at L’Oréal’s Luxury Division and Chanel. Her unparalleled industry expertise, brand storytelling acumen, and proven track record of delivering results across all channels will be invaluable to the company.”
The statement further highlighted that Edelman “has nearly two decades of experience translating data-driven insights into brand-building strategies.” Meanwhile, Victoria Beckham Beauty itself “has just celebrated its fifth anniversary in the luxury beauty industry.”
In recent years, Victoria Beckham Beauty has experienced rapid growth in the U.S. market. The brand recently expanded its physical retail distribution through its partnership with Augustinus Bader and launched its fourth fragrance, 21:50 Rêverie, which was unveiled in New York with a grand event and pop-up store. Within a month of its launch, 21:50 Rêverie became the brand’s best-selling fragrance.
Additionally, the brand recently introduced a new concealer in collaboration with its long-time partner Augustinus Bader. Industry insiders expect this product to generate $10 million in sales between its launch in September 2024 and the end of the year. This diversification marks an expansion of the brand’s core product lineup beyond its hero product, the Satin Kajal Liner. As of June 2024, this eyeliner was selling at a rate of one unit every 30 seconds, with annual sales exceeding $30 million.
This period also marks an overall growth phase for Victoria Beckham’s beauty and fashion businesses. According to the company’s recently filed fiscal year 2023 report, revenue across all categories increased by 52% to £89.1 million, while adjusted EBITDA surged to £1.8 million, significantly up from £200,000 in the previous year.
| Source: Official press release
| Image Credit: Brand and corporate websites, individual LinkedIn profiles
| Editor: LeZhi
