Brands
Le Méridien checks into Mumbai with runway-ready luxury and charm
MUMBAI: Suite dreams are set to land in Mumbai, as Marriott International and The Balwa Group ink a stylish new chapter with the upcoming Le Méridien Mumbai International Airport. Set just two kilometres from the airport, the hotel is slated for a January 2029 debut and promises to blend the city’s creative pulse with the brand’s signature mid-century modern aesthetic. The announcement marks Le Méridien’s grand arrival into India’s financial capital, a destination where tradition tangoes with modernity.
With 161 sleek rooms and suites on the cards, the hotel will cater to global travellers seeking timeless style and curated experiences. Guests can expect a specialty restaurant, patisserie, and the signature Le Méridien Hub, an elegant reinterpretation of the hotel lobby, where espresso meets aperitifs at the Latitude/Longitude Bar.
“Le Méridien has always inspired travelers to explore the world in style and savor the good life through the lens of its creative-minded spirit, and what better city to continue this journey than in the lively, ever-evolving city of Mumbai”, said Marriott International regional vice president for South Asi Ranju Alex. “The brand’s mid-century design, captivating spaces and chic, signature programming will offer a distinct stay experience to world travelers visiting the city. This signing marks a strategic step in expanding Marriott International’s lifestyle portfolio across the region, and we are excited to once again collaborate with The Balwa Group, ensuring delivery of the highest standards of hospitality, in line with our values.”
“We are thrilled to continue our relationship with Marriott International through the signing of Le Méridien Mumbai International Airport,” said The Balwa Group director and vice president Rafiq Balwa. “This marks the third hotel collaboration between the two groups, following the success of Fairfield by Marriott Mumbai International Airport and the soon-to-open The Ballard – A Tribute Portfolio Hotel. This hotel will be a landmark in our portfolio – combining global design sensibilities with the cultural richness of Mumbai. Le Méridien, a brand known for unlocking the charm of each destination through curated experiences and timeless style, will bring a fresh perspective to Mumbai’s hospitality scene. As we continue to expand our hospitality footprint, we are committed to creating iconic destinations that offer exceptional experiences and reflect our unwavering passion for excellence.”
The hotel is the third partnership between Marriott and The Balwa Group, following Fairfield by Marriott Mumbai and the soon-to-open The Ballard – A Tribute Portfolio Hotel.
The hotel will also house a 1,357 sq metre banquet area with expansive lawns and an open-air terrace making it perfect for everything from boardroom huddles to baraats. Leisure seekers can unwind in the open-air pool, spa, or at the fully equipped fitness centre.
As Mumbai’s skyline evolves, Le Méridien’s arrival is poised to add a new layer of elegance to its hospitality map with a brand that believes the journey should be just as beautiful as the destination.
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.
