The Estee Lauder Companies (NYSE: EL) manufactures and sells skin care, makeup, fragrance, and hair care products in 140 countries. EL distributes its products through a variety of different channels, including large department store retailers, smaller boutique retailers, beauty salons and spas, and direct-selling through company-owned stores, online websites, and TV informercials. ^[1] For fiscal 2010, EL reported net sales of $7.80 billion and net income of $478.3 million.

EL's sales figures were affected by a poor global retail environment, which resulted in fewer sales of its heritage products as well as adverse currency exchange rates. EL posted decreases in sales throughout all of its product segments seeing its net income drop over 50% in the 2009. ^[2] Notably, FY2009 saw a strong increase in its Asian markets, with sales increasing 10% from 2008.^[2]

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