MAM
Brand Owners Forum to offer inputs in mall planning
BANGALORE: As the “mall culture” becomes ever more embedded in India’s cities, the Indian retail scenario is going through a major change. Every major city in India will soon have several malls, with big metros like Delhi and Mumbai planning more than 20 each.
And with over 300 malls expected to come up over the next three years, location, parking spaces, management, size and most importantly, the tenant mix – as in brands available – could be crucial factors for success. This is the view of the the Brand Owners Forum (BOF), comprising some of the leading brands from various businesses, which has beened formed to work as a platform to interact with mall developers so that the maximum “mutual benefit” is derived.
The BOF asserts that mall developers need a good collection of brands to make their malls successful and the brands need to be present in a good retail environment with likeminded brands to make a successful retail venture.
“It is a collaborative effort. We work closely with key mall developers to understand them better and arrive at ways of participating in the mall for mutual benefit,” says BOF chairman Uday Kumar.
BOF members claim that the retail space that they can occupy in any mall is over 30,000 sq. ft. A typical mall has about 150,000 to 200,000 sq. ft of retail space and BOF believes it can help to provide a good brand mix in the mall.
“Our objective is to provide mall developers with a set of Brands that will create a good connect with end consumers,” says Vishak Kumar, vice chairman of the forum.
The BOF currently has over 20 members and more joining in, given the growth of malls across the country and interest in brands expanding their retail presence. Adidas, Arvind Fashions, Café Coffee Day, Freelook, Hi-Design, Himalaya Healthcare, Ikian Furnitures, Indus-League Clothing, ITC LRBD, Levi Strauss, Madura Garments, Milano Overseas, Nike, Oyzterbay, Pepe Jeans, Personality, Proline, Reebok, Tanishq, Titan are the current brands that have banded together to form BOF.
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.
