Estee Lauder Companies, Inc. (the) · NYSE:EL
Estee Lauder Companies, Inc. (the) — Investor Day (November 2026)
24 slides from Estee Lauder Companies, Inc. (the)'s investor day presentation, Nov 4, 2026
Slide 1: China: A Blueprint for Consumer-Centric Growth
Joy Fan PRESIDENT & CEO, CHINA CHINA: A BLUEPRINT FOR CONSUMER- CENTRIC GROWTH Exhibit 99.4
Slide 2: The Next China Is Still China
THE NEXT CHINA IS STILL CHINA ELC CHINA IS POSITIONED TO WIN IN CHINA
Slide 3: China remains a key market for prestige beauty, with meaningful growth opportunities
CHINA REMAINS A KEY MARKET FOR PRESTIGE BEAUTY, WITH MEANINGFUL GROWTH OPPORTUNITIES Source: 1. Euromonitor, Fixed 2025 ex. rates; Beauty Market = Skincare, Color Cosmetics, Fragrance and Hair Care; Prestige represent the premium segments of these categories; CY30 represents Company forecasts; Per C
Slide 4: China's prestige beauty market experienced sequential recovery since FY25 Q3
Source: 1. Penetration in female consumers, Kantar CY25 PRESTIGE BEAUTY INDUSTRY GROWTH +7.6% FY26 vs. FY25 FY25 Q3 Q4 FY26 Q1 Q2 Q3 Q4 FY27 Q1 Prestige Beauty Industry Growth YoY 0.2% 3.2% 12.5% 10.4% 8.1% 9.3% 6.3% 6.7% ELC China Retail Sales Growth YoY 6.5% 8.1% 7.8% 3.2% 7.6%7.2% CHINA’S PRESTIG
Slide 5: ELC China is a scaled business with best-in-class consumer reach
CONSUMER-CENTRIC COVERAGE Note: 1. Online Organic Net Sales Growth; Total Reported Online Sales Growth +19% YoY ELC CHINA IS A SCALED BUSINESS WITH BEST-IN-CLASS CONSUMER REACH ELC LEADERSHIP IN CHINA YEARS IN CHINA 33 +10% ELC CHINA DOMESTIC Retail Sales Growth (FY26) BRANDS IN CHINA 17 22.2% +0.5p
Slide 6: Established a powerful brand portfolio covering skin care, makeup, fragrance, hair care
Source: 1. Brand Health Tracker 2. Beauté Research ESTABLISHED A POWERFUL BRAND PORTFOLIO COVERING SKIN CARE, MAKEUP, FRAGRANCE, AND HAIR CARE SKIN CARE #1 AWARENESS1 #1 LUXURY BRAND2 PIONEERED POST-DERM CARE, UNLOCKING CHINA TURNAROUND #1 NEW BRAND OVER PAST 5 YEARS2 ECO-FRIENDLY BRAND K BEAUTY BRA
Slide 7: ELC China has outpaced the prestige beauty industry over the past seven quarters
Source: Beauté Research ELC CHINA HAS OUTPACED THE PRESTIGE BEAUTY INDUSTRY OVER THE PAST SEVEN QUARTERS FY26 ELC SHARE GAIN +0.5pts In FY26, ELC Gained Share Across Prestige Categories BASED ON BEAUTÉ RESEARCH DATA SKIN CARE +0.5pts Share gain +0.4pts Share gain +1.0pts Share gain MAKEUP FRAGRANCE
Slide 8: Beauty Reimagined in China: Action Plan Priorities
Action Plan Priority #1 ACCELERATE BEST-IN-CLASS CONSUMER COVERAGE Meet consumers where they are through local insights and integrated coverage Action Plan Priority #2 CREATE TRANSFORMATIVE INNOVATION From China-for-China to China-for-The-World Action Plan Priority #3 BOOST CONSUMER-FACING INVESTMEN
Slide 9: Scaling our digital presence for broader coverage and national reach
Notes: 1. FY19: Tmall, WeChat, Brand.com, China Merchants Bank; FY26: Tmall, JD, Douyin, VIP, WeChat Mini Program, WeChat Store, Brand.com, Little Red Book, PDD. 2. Online Organic Net Sales Growth; Total Reported Online Sales Growth +19% YoY SCALING OUR DIGITAL PRESENCE FOR BROADER COVERAGE AND NATI
Slide 10: Expand offline selectively by brand, city and consumer demand
Notes: 1. 102 new opening a year, FY27-30 (Plan). FY27 planned closure: -64. Assume -32 closures a year FY28-30. EXPAND OFFLINE SELECTIVELY BY BRAND, CITY AND CONSUMER DEMAND OFFLINE: STORE IS OUR MEDIA attracting young, social & lifestyle-driven consumers 690+ 154 Meaningful Opportunity for Expansi
Slide 11: Deep stakeholder relationships with platforms and retailers
Notes: 1. FY27 Chinese Valentine’s Day vs. FY26 Chinese Valentine’s Day 2. Douyin, time during Beauty of Glory IP period vs. last year same period Tmall JD.com Douyin (TikTok) E-COMMERCE PLATFORMS SOCIAL MEDIA Red Book Douyin (TikTok) Tencent Bilibili OFFLINE RETAILERSDEEP STAKEHOLDER RELATIONSHIPS
Slide 12: Beauty Reimagined in China: Action Plan Priorities
Action Plan Priority #1 ACCELERATE BEST-IN-CLASS CONSUMER COVERAGE Meet consumers where they are through local insights and integrated coverage Action Plan Priority #2 Action Plan Priority #3 BOOST CONSUMER-FACING INVESTMENTS China is reimagining how prestige brands build desire across all touchpoin
Slide 13: China Innovation Center: powering innovation for China with global impact
CHINA INNOVATION CENTER (CIC) CHINA INNOVATION CENTER: POWERING INNOVATION FOR CHINA WITH GLOBAL IMPACT 12,000 m2 fully-equipped lab space ~30% of Global Innovation Sales in Fiscal 2027 from CIC Led 60 New Product Launches with $700M gross sales in FY26 Average project lead-time from concept to mark
Slide 14: China Moves Opportunities from Insight to Shelf at Speed
CLINIQUE CX RHC CLINIQUE CX PDRN DR.JART+ KX On Counter Date: Dec ’24 On Counter Date: July ’26 On Counter Date: Jan ’25 CHINA FOR CHINA LA MER BALANCING TREATMENT LOTION RE-NUTRIV OIL CLINIQUE CITYBLOCK UV On Counter Date: Apr ’25 On Counter Date: Dec ’25 On Counter Date: Mar ’26 CHINA FOR THE WORL
Slide 15: Beauty X: partner with leading local players
BEAUTY X: PARTNER WITH LEADING LOCAL PLAYERS TO ACCELERATE ACCESS TO CUTTING-EDGE EXPERTISE BEAUTY X Open innovation program competition 80% proof-of-concept rate, significantly above industry benchmarks WHERE WE FOCUS Areas with greatest opportunity for transformation Biotechnology AI Consumer expe
Slide 16: Scaling global excellence with local relevance
SCALING GLOBAL EXCELLENCE WITH LOCAL RELEVANCE—A UNIQUE ELC ADVANTAGE IN CHINA GLOBAL FOR CHINAGLOBAL
Slide 17: Beauty Reimagined in China: Action Plan Priorities
Action Plan Priority #1 ACCELERATE BEST-IN-CLASS CONSUMER COVERAGE Meet consumers where they are through local insights and integrated coverage Action Plan Priority #2 Action Plan Priority #3 Action Plan Priority #4 CREATE TRANSFORMATIVE INNOVATION From China-for-China to China-for-The-World FUEL SU
Slide 18: Brand equity building driving desirability among Chinese consumers
360 BRAND EQUITY BUILDING DRIVING DESIRABILITY AMONG CHINESE CONSUMERS ADVERTISING SOCIAL SEEDING E-COMMERCE AS MEDIA THE PHYSICAL EXPERIENCE AS MEDIA
Slide 19: PR events, outposts and city takeovers are our moving 3D media
PR EVENTS, OUTPOSTS AND CITY TAKEOVERS ARE OUR MOVING 3D MEDIA
Slide 20: China is a global pioneer of high-touch experiential retail
SKIN DIAGNOSTIC FOR PERSONALIZED SOLUTIONS Clinique Skin Diagnostic IN-STORE ACTIVATIONS Jo Malone London Christmas SIGNATURE SERVICE FROM EACH BRAND Aveda Hair Salon INDULGING FACIAL EXPERIENCE La Mer SPA Every La Mer store has cabin service CHINA IS A GLOBAL PIONEER OF HIGH-TOUCH EXPERIENTIAL RETA
Slide 21: Beauty Reimagined in China: Action Plan Priorities
Action Plan Priority #1 ACCELERATE BEST-IN-CLASS CONSUMER COVERAGE Meet consumers where they are through local insights and integrated coverage Action Plan Priority #2 Action Plan Priority #3 Action Plan Priority #4 CREATE TRANSFORMATIVE INNOVATION From China-for-China to China-for-The-World BOOST C
Slide 22: We have integrated AI to supercharge marketing effectiveness and efficiency
WE HAVE INTEGRATED AI TO SUPERCHARGE OUR MARKETING EFFECTIVENESS AND OPERATIONAL EFFICIENCY AI PAGE DESIGN SMART BEAUTY ADVISORSAI LIVESTREAM AI STOREAI GENERATED CONTENT
Slide 23: ELC China has established one operating model from 2012
ELC CHINA HAS ESTABLISHED ONE OPERATING MODEL FROM 2012 TO ENABLE GREATER SPEED, AGILITY AND EFFICIENCY VALUE CHAIN State-of-the-art Fulfillment Capabilities SHANGHAI FULFILLMENT CENTER • 3-in-1: Connects bonded warehouse with main DC and Online warehouse • Highly automated order fulfillment and del
Slide 24: China is more than a growth market, it is a blueprint for ELC's next chapter
CHINA IS MORE THAN A GROWTH MARKET IT IS A BLUEPRINT FOR ELC’S NEXT CHAPTER
Estee Lauder Companies — Investor Day (November 2026) on 6ix