Estée Lauder launched its cosmetic brand Clinique on the Amazon $AMZN Premium Beauty store earlier this week. It makes Clinique the first brand of the cosmetic giant to sell its beauty products on the e-commerce site.
“We are thrilled to be strategically expanding our consumer reach in the U.S. as a select few Estée Lauder Companies brands open dedicated storefronts in Amazon’s fast-growing Premium Beauty destination over the coming months, starting with Clinique today,” Fabrizio Freda, president and CEO of Estée Lauder, said in a statement Wednesday.
Among the Clinique items offered on Amazon are skincare, makeup, fragrances, and men’s products. After Clinique, more Estée Lauder beauty brands are expected to sell on Amazon.
Amazon Premium Beauty store is a category on Amazon known for big brands and professional beauty products, which are generally sold in luxury retail stores. In order to qualify for premium status, a product or brand must satisfy certain criteria, such as high-quality ingredients and good results.
Estée Lauder stock rose Thursday after Bank of America $BAC upgraded its recommendation from neutral to buy.
With its focus on new products and marketing, Estée Lauder has been able to reduce its dependence on the Chinese and travel markets, the Bank of America analysts said. The company has recovered from its lowest point and is now focusing on innovation, they said.
Estée Lauder stock was the top-performer on the S&P 500 on Thursday, rising 6.3% to $154 per share. But the stock is still down 37% over the last 12 months.
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