MAM
Back on Track: Dream Sports Foundation lends support to sports professionals
KOLKATA: Dream Sports Foundation (DSF), the philanthropic arm of Dream Sports has successfully supported over 3,500 sports professionals across 29 sports during the pandemic as part of its Back on Track programme launched last year.
Out of the 3,500 beneficiaries, 3,300 are current and retired athletes, over 100 are coaches, and more than 70 are sports support staff and journalists. The beneficiaries are from 24 states and three union territories in India, it said on Friday.
The onset of the Covid 19 pandemic has disrupted life at many levels leading to job and income loss across industries and sectors, including sports and the programme has been able to help people in need from the sports industry by providing financial aid, training, and sports equipment support, coaching, proper diet and nutrition, monthly stipends, and hygiene kits.
To ensure that the aid reached the most affected members of the Indian sports ecosystem, DSF also helped 16 NGOs across the country, including Nav Sahyog Foundation, Dribble Academy, Nagaland Football Foundation, The Right Pitch, The Ball Project, and many more. DSF supported sports journalists through the Playfield magazine initiative who had lost their jobs due to the COVID crisis.
Speaking about the programme, Dream Sports & Dream11 COO & co-founder Bhavit Sheth said, “Owing to the lack of opportunities and resources due to the pandemic, many sports professionals and athletes were giving up on their dreams as they were unable to sustain themselves. We wanted to help them land on their feet and take strides towards their personal and sporting goals through ‘Back on Track’. We are glad that we could reach several sports beneficiaries pan-India and provide integral support within the last nine months.”
One of the beneficiaries of ‘Back on Track’ is Rani Laxmi Bai Sports Academy, Bihar, which gives girls from disadvantaged backgrounds the opportunity to play sports at state, national and international levels. Academy’s founder, Sanjay Pathak said, “We are grateful for such initiatives that have made a significant difference for our 55 senior students, who play football and handball. They have helped in retaining their dreams of playing sports, especially during these difficult times. The girls played with a single pair of shoes for one whole year, but thanks to Dream Sports Foundation’s support, they now have multiple pairs of high-quality shoes and sports kits essential for national-level players. The monetary support is also helping us provide better nutrition to the students.”
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.
