Brands
CEAT signs on cricketing sensation Shafali Verma as brand ambassador
Mumbai: In a significant move to bolster its association with cricket, CEAT Ltd., India’s leading tyre manufacturer, proudly announces the signing of Shafali Verma, the prodigious Indian cricketer, as its latest brand ambassador. With this, Verma joins the esteemed list of CEAT’s cricketing brand ambassadors, which includes stalwarts like Rohit Sharma, Shubman Gill, Shreyas Iyer, Harmanpreet Kaur, and Mathew Hayden.
At the tender age of 15, Verma made history by becoming the youngest-ever cricketer to represent India, shattering a 30-year-old record previously held by the legendary Sachin Tendulkar. She further solidified her position in the annals of cricket by becoming the youngest-ever half-centurion for India. Her fearless style of play, combined with an undying passion, resilience, and an indomitable spirit, led India to clinch the U-19 ICC Cricket World Cup title.
CEAT Ltd. chief marketing officer Lakshmi Narayanan B said, “At CEAT, our dedication to cricket runs deep, and our association with the sport has only grown stronger over the years. From our annual CEAT Cricket Ratings to our strategic partnerships, we have always prioritized recognizing and rewarding outstanding performance. As we welcome Shafali Verma to the CEAT family, it’s her exceptional on-field performance that stands out. While the personality of a player is significant, it’s their consistent achievements across various formats that truly resonate with our brand’s values. Shafali embodies the spirit of excellence and determination that CEAT champions. We are thrilled to have her on board and look forward to a successful partnership, furthering our commitment to support and uplift the sport of cricket.”
Verma said, “I am thrilled to join the CEAT family. It has, for long been a brand that has been associated with some exceptional cricketers and I hope to carry on that trend. What’s more important is the role CEAT is playing in acknowledging women’s cricket, which makes this relationship even more special.”
CEAT has been synonymous with cricket, and the addition of Verma to its roster of ambassadors only reinforces its commitment to the sport.
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.
