Estée Lauder Hellas, the Greek subsidiary of The Estée Lauder Companies (ELC), today announced its financial results in Greece for the fiscal year ended 30 June 2023.

Estée Lauder maintained its leadership position in the selective distribution of beauty products in Greece and significantly strengthened its position in the fragrance category, with particular growth in the fine fragrance category with brands in its portfolio such as Tom Ford, Jo Malone London, Kilian Paris and Editions de Parfums Frédéric Malle.

Net sales decreased by 18.9%. The gross profit margin increased by 6.7 percentage points and the subsidiary recorded a pre-tax loss of €7.9 million.

For the current fiscal year (1 July 2023 to 30 June 2024), Estée Lauder Hellas is back on track for strong growth, with double-digit net sales growth already in place for the first half (July 2023 to December 2024). This has been the result of specific initiatives and strategic partnerships with a focus on brand building and in-store service excellence. Estée Lauder Hellas is now on a steady path to profitability growth with a concrete business plan in place.