Estee Lauder Company’s sales grow by 9% in FY’22 but a decline is reported in FY 2023

For the fiscal year ending 30th June 2022, Estee Lauder Companies reported net sales of USD 17.74 billion which is a 9% increase from the previous year’s USD 16.22 billion. There was a growth in the organic net sales by 8%. The net sales in the Europe, Middle East & Africa region (EMEA) and most of the company’s product categories were greatly impacted by the US Dollars retaliation to other currencies. Due to decline of sales in the EMEA region, skincare net sales in America grew. The make-up net sales grew for both MAC and Estee Lauder. It is predicted by ELC’s first quarter fiscal 2023 that the net sales would decrease by 8-10% in comparison to this year’s net sales. The Russia-Ukraine conflict and the foreign currency translation are the reasons for the estimated decline.