With the likes of Victoria Beckham and Kate Hudson as super fans, luxury skincare brand La Mer has numerous cult products under their belt - Crème de la Mer we're looking at you!
Turns out that cult following means business, as sales boom for La Mer, reaching over $1 billion dollars in net sales, according to reports by WWD.
Estée Lauder president and CEO Fabrizio Freda said La Mer joins a handful of brands to reach the milestone for the group: “La Mer became the fourth brand in our portfolio to contribute well over $1 billion in net sales, and we increased sales at MAC and Clinique globally,” he said in a statement.
Along with the success of La Mer, this financial year also sees the Lauder portfolio bring in $13.7 billion in sales, up 16 per cent from fiscal 2017.
Though the increase includes an 11 per cent growth in makeup sales, driven by the likes of Estée Lauder, Tom Ford, Too Faced and Becca, Freda said the consumer is more willing to part with their hard earned cash on skincare rather than makeup currently.
“In this moment, there’s a cycle in the U.S.…where the consumer is allocating a lot of money to skincare and because of that, they’re allocating a bit less to…makeup.”
However Freda said the cycles vary by country, and with Chinese customers buying more makeup than before, China is a key area of focus for M.A.C, which has struggled in recent years in the U.S.
Image source: @lamer
