MAM
Carat to handle media mandate for British Council in India
MUMBAI: The British Council – UK’s international organisation for cultural relations and educational opportunities has roped in Carat India, the flagship media agency from Dentsu Aegis Network, to handle its media duties in the country.
This win comes on the back of Carat’s new business wins such as Franchise India Holdings (FIHL) and Fossil group in the recent past.
British Council India director marketing Nirupa Fernandes says, “We are very pleased to associate with Carat in India following a close association with Carat in UK. 2018 marks 70 years of the British Council in India and we have been inspired by India every day of the last 70 years. This year, we want to share the stories of the great things we’ve done together, make new connections and new stories, and inspire millions of young people to develop relationship and connections for the next 70 years.”
Speaking about the win, Carat India CEO Rajni Menon adds, “It really feels great having British Council on board. British council has been a part of many Indians’ lives through some form of their services starting from improving English skills, courses for teachers, preparing for IELTS exams, helping students to study abroad, etc. With Dentsu Aegis Network’s integrated approach and capabilities of delivering end to end solutions, we are confident of enabling a strong connect with the young and dynamic audiences across platforms.”
British Council has offices in nine cities across India and continually work towards creating opportunities for young people to develop new skills, become better qualified, introduce an international dimension to their learning or profession and develop a better understanding of other cultures. Its work in India covers arts, sports, higher education, English language, training solution and library.
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.
