MAM
BBC Worldwide wins outstanding export achievement award
LONDON: BBC Worldwide, the commercial consumer arm of the BBC, has been recognised for its Outstanding Export Achievement in the Trade Partners UK-backed International Business Awards.
The International Business Awards, a joint initiative between Trade Partners UK and Nexus Communications (publishers of Export Times) recognise the achievements of some of the best of British business, from successful new ventures to leading blue-chip organisations across the UK.
Being recognised with this major accolade – the equivalent of a lifetime achievement award for export – against strong competition from leading UK organisations reflects BBC Worldwide’s financial returns, strong growth, innovative strategies and market leadership over a three-year review period
Presenting the award to BBC Worldwide’s Director of International Television Mike Phillips the Minister of State for International Trade and Investment Baroness Symons said, “The last twelve months have been difficult for those engaged in international trade, but despite this many British exporters have persevered and gained valuable contracts for the UK. It is through the success of businesses and individuals that we are the world’s fifth largest exporter of goods and the world’s largest exporter of services. It is a great tribute to the strength, flexibility and resilience of those who have competed successfully in the global market.”
An official release informs that in the three-year review period – 1999-2002 – BBC Worldwide grew its turnover from ?514m to ?660m and its profit from ?9m to ?26m. In the last financial year (2001-2002) the company returned a record ?106m to the BBC. The company’s exceptional strength and growth was also recognised this year with a Queen’s Award for Enterprise 2002 in the international trade category.
Key factors in the company’s growth have been the launch of BBC channels, branded blocks, the re-versioning of programmes such as The Weakest Link and Top of the Pops for local markets, and joint venture partnerships, driving significant business growth in key territories such as the USA, Germany, Latin America and Canada.
Other major BBC properties that contributed to this success include the internationally acclaimed factual series, The Blue Planet and Walking with Beasts. Children’s properties such as Teletubbies and Tweenies continued to expand across media around the world. In addition to financial growth, all aspects of the company’s activities – from programme sales to corporate responsibility – were taken into account for the Award. The company had to prove best practice in the areas of: relationship with employees, suppliers, partners, customers and contractors; impact on society; relationship with local communities – at home and abroad; and impact on the environment
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.
