MORGAN STANLEY PLC/CALL/ESTEE LAUDER `A`/280/0.1/20.12.24 Stock

The Estée Lauder Companies Inc. is one of the 1st world cosmetics groups. Products are sold under brands (Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, Bobbi Brown, La Mer, Aveda, Jo Malone London, Bumble and bumble, Darphin, Smashbox, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, Kilian Paris, Too Faced, Dr. Jart+, DECIEM and The Ordinary) and under brands of licenses (Tommy Hilfiger, Donna Karan New York, DKNY, Michael Kors, Tom Ford, Dr. Andrew Weil, Ermenegildo Zegna and AERIN). Net sales break down by family of products as follows: - skin care products (58.4%); - make-up products (25.9%); - perfumes (11.9%); - hair care products (3.5%); - other (0.3%). At the end of June 2021, products are marketed through about 1,600 outlets worldwide, distributed between large stores, perfume shops, pharmacies, beauty institutes and exclusive shops, and via Internet. The group has 10 production sites worldwide. Net sales are distributed geographically as follows: Americas (23.4%), Europe/Middle East/Africa (42.8%) and Asia/Pacific (33.8%).