MAM
Apex-Brasil is 2014 soccer WC sponsor
MUMBAI: Soccer‘s governing body Fifa has announced the latest addition to its group of sponsors, with Brazilian Trade and Investment agency, Apex-Brasil, agreeing to a deal to become the fifth National Supporter of the Fifa Confederations Cup Brazil 2013 and the 2014 Fifa World Cup Brazil.
The agreement provides Apex-Brasil with the opportunity to showcase Brazilian industry in general as well as promoting Brazil as an innovative and sustainable country. The two events will facilitate Apex-Brasil‘s mission to bring together Brazilian businesses and potential foreign investors, with a view to strengthening business ties and securing investment.
Brazilian Minister of Sport, Aldo Rebelo, highlighted the relevance of the partnership established between Apex-Brasil and Fifa. “In addition to being one of the world´s biggest sporting events, the Fifa World Cup also features a major opportunity for its host country. Thanks to Apex-Brasil‘s valuable initiative, Brazilian products and services, cutting-edge technology, gastronomy and fashion will be showcased at an exceptional promotion station which is to be set up during the event. And the country shall take advantage of this unique opportunity, which adds to its economy and its image perception worldwide.”
Brazil‘s Minister of Sport Aldo Rebelo said, “Thanks to Apex-Brasil‘s valuable initiative, Brazilian products and services, cutting-edge technology, gastronomy and fashion will be showcased at an exceptional promotion station which is to be set up during the event.
Apex-Brasil president Mauricio Borges reflected on the agreement, stating, “The trade promotion actions to be implemented during the Fifa World Cup and the FIFA Confederations Cup encompass unparalleled opportunities for us to present an innovative Brazil to the world, a country capable of organizing major sporting events and of developing products and services with high added value and unique design.”
Fifa marketing director, Thierry Weil commented on the agreement, saying, “It gives us great pleasure to welcome Apex-Brasil as the latest National Supporter of the Fifa Confederations Cup 2013 and the 2014 Fifa World Cup. The events present Apex-Brasil with the ideal platform to position Brazil as an attractive business destination. We truly have a common goal – to focus the eyes of the world on Brazil, showcasing the strength of this unique country.”
The agreement with Apex-Brasil represents the penultimate partnership to be signed in the build up to Brazil 2014, with Fifa‘s sponsorship structure now almost complete. All global sponsorship slots are occupied, with just one National Supporter space left to fill.
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.
