Jane Hertzmark Hudis of Estée Lauder Companies: "We are really brand builders over time"
During a full year of uncertainty and change, companies found few things they could bet on. But for Estée Lauder Companies, its hero product strategy provided to be fundamental. In its latest quarterly earnings, 10 of ELC’s brands saw growth. La Mer and its namesake brand Estée Lauder saw double-digit sales growth, thanks to iconic franchises. "[The strategy is] really to focus on our hero products. Because first and foremost, these products are absolutely loved," said Jane Hertzmark Hudis, executive group president of the Estée Lauder Companies, on the most recent episode of the Glossy Beauty Podcast. "They will drive the greatest amount of recruitment, which is new consumers to our brand, and repeat business, which is the loyalty to the products. Advanced Night Repair and Crème de la Mer are great examples. However, we do innovate in what we call those franchises." A long-term ELC veteran, Hertzmark Hudis started at Prescriptives within the company before taking leadership roles at Origins and Estée Lauder. She is often pointed to as the driver of the organization's skin-care wins. In July, she became the first woman promoted to executive group president at the conglomerate. Though the concept of prestige beauty is evolving, Hertzmark Hudis affirmed that Estée Lauder Companies will "be pure-play, focused on prestige and luxury." "The luxury business is booming, and people want more and more luxury, and more and more luxury experiences. So luxury is, quite frankly, here to stay," she said