Brands
Hyundai Motor India delivers 1100th unit of all-electric SUV – Hyundai IONIQ 5 to Shah Rukh Khan
Mumbai: Hyundai Motor India Ltd. India’s first smart mobility solutions provider and largest exporter since its inception, today delivered theall-electric SUV IONIQ 5 to the ‘King of Bollywood- Shah Rukh Khan’. Commemorating the 25 year long association with Hyundai, the company presented its flagship EV SUV to King Khan, as a vote of thanks for his continuous support and trust in the brand.
Leading the charge towards electrification of Future Mobility in India, Hyundai launched the IONIQ 5 at the Auto Expo 2023 earlier this year. With over 1000 units sold, IONIQ 5 has received an astounding response from the customers fulfilling their aspirations and appetite for premium luxury cars. Shah Rukh Khan receives the 1100th unit of the IONIQ 5 which also becomes the first ever EV in his car collection giving him an experience of sustainable mobility with utmost luxury and comfort.
Speaking at the presentation ceremony, Hyundai Motor India Ltd. MD & CEO Unsoo Kim said, “Hyundai has been associated with Shah Rukh Khan for the last 25 years, making it one of the longest brand-ambassador partnerships in the industry. SRK is one of the first Hyundai family member and has played a key role in enhancing our brand values and propositions over the years. As a vote of thanks, we have presented our flagship EV- IONIQ 5 to SRK, showcasing the technological prowess of the car and the future of mobility in India. We are truly grateful for his unwavering support in Hyundai and hope our association goes on for many more years to come.”
Expressing his gratitude, Khan, said, “I am honoured to receive the all-electric SUV Hyundai IONIQ 5. This is my fist ever EV and I am glad it is a Hyundai. Year 2023 has been truly remarkable for Hyundai as well as for me. The love we have mutually received from the people of India is our driving force in the industry. IONIQ 5 is a delight to look at with its unique design and exceptional features. It is unbelievable that this EV marvel by Hyundai has surpassed its expectations and sold over 1000units this year. Being the oldest member of the Hyundai Motor India family, our25 year long journey has been really fruitful for both me and the brand. We have had some brilliant moments and milestones together. The brand Hyundai is family to me and it is my pleasure to be associated with one of the most trusted and loved car brand in India.”
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
