The Estée Lauder Companies Inc. (NYSE: EL) (“ELC”) and BALMAIN have entered into a license agreement to collaboratively develop, produce, and distribute an innovative line of beauty products that will speak to luxury consumers around the world: BALMAIN BEAUTY. The collaboration is expected to launch in fall 2024, with the goal to transform the luxury and couture beauty world through exceptional design, singular craftsmanship, and an unyielding commitment to innovation.

In 1945, when founder Pierre Balmain boldly introduced his audacious, fresh, and feminine “New French Style,” Balmain helped post-war Paris begin to regain its title as the fashion world’s capital. Today’s BALMAIN, under the visionary leadership of Creative Director Olivier Rousteing since 2011, builds upon Pierre Balmain’s legacy, with the house’s rich archives providing key inspirations and the legendary savoir-faire of Balmain’s atelier ensuring the success of Rousteing’s distinctive “Renewed French Style.” While revering the past, Rousteing has assumed a pioneering role in advocating for a more inclusive fashion world, while he and his team also expand design possibilities, relying on time-honored Parisian couture techniques to masterfully perfect the latest 21st-century breakthroughs.

Founded in 1946 by the remarkable female entrepreneur, Estée Lauder, today The Estée Lauder Companies is the global leader in prestige and luxury beauty, celebrating the diversity of the world and inspiring consumers to express their individual beauty. As the only company focused solely on prestige and luxury makeup, skin care, fragrance, and hair care, the company’s brands are sold in approximately 150 countries and territories. Infused throughout the family company are deep-rooted values and a rich history, as well as a passion for creativity and innovation and a desire to push boundaries and invent the unexpected. Drawing inspiration from the bold and breakthrough efforts of Estée Lauder, who helped invent the modern beauty industry, the company is at the forefront of social and environmental impact, with equity and sustainability as top priorities.

“For over ten years, my BALMAIN team and I have been pushing the boundaries of what is possible in fashion,” notes Mr. Rousteing. “We’ve been determined to reflect the way that today’s diverse generation wishes to live and dress. So, obviously, there was no way that we were going to expand into beauty without ensuring that we had found the partner who understood and shared our outlook. From the very beginning, the team at The Estée Lauder Companies made it very clear that they support BALMAIN’s distinctive vision, as well as our goal of disrupting the global luxury beauty paradigm. Knowing that — and knowing that Estée Lauder is the paragon of excellence — well, I can’t wait to start working with them.”

Guillaume Jesel will be appointed President, Global Brands, TOM FORD BEAUTY, BALMAIN BEAUTY and Luxury Business Development, effective immediately. “BALMAIN and Olivier Rousteing are visionary forces in global fashion. We look forward to working with them to expand the BALMAIN universe and forge a new space in luxury beauty that clearly reflects the strong, inclusive, and fearless spirit of the brand,” said Mr. Jesel.

Follow on Instagram @Balmainbeauty.

About The Estée Lauder Companies Inc.

The Estée Lauder Companies (“ELC”) is one of the world’s leading manufacturers, marketers and sellers of quality skin care, makeup, fragrance and hair care products. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD BEAUTY, Smashbox, Aerin Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, Kilian Paris, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.

About BALMAIN

For more than ten years, BALMAIN’s Creative Director, Olivier Rousteing, has been inventively building upon Pierre Balmain’s extraordinary legacy, while always remaining true to his own determination to design clothes that reflect the way his inclusive, powerful, and global BALMAIN customer wishes to live today. The result is a unique and instantly recognizable BALMAIN silhouette, style and attitude that highlights the singular craftsmanship of the house’s celebrated ateliers, while consistently referencing a rich Parisian heritage. For more information, please visit balmain.com.

[The forward-looking statements in this press release, including those in the quoted remarks and those relating to the expected launch and expectations for BALMAIN BEAUTY involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, actions by retailers, suppliers and consumers, competition, the ongoing success of the collaborative relationship of the parties, the abilities to implement the plan, and those risk factors described in ELC’s annual report on Form 10-K for the year ended June 30, 2022.]

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