MAM
Cheil X hires Anurag Tandon as chief growth officer
Mumbai: Anurag will lead the newly opened Mumbai office in addition to the growth charter. He is a seasoned business leader with more than twenty years of experience having successfully led large and marquee business units like DDB Mudra West, and WT, Mumbai where he was responsible for managing the P&L, key client relationships and topline growth. His other stints include Ogilvy and Leo Burnett. He also has extensive brand management experience having worked across multiple categories with large global brands like UL, Volkswagen, McDonald’s and J&J to name a few. As a chief growth officer, Anurag will spearhead efforts to expand Cheil X’s business operations in the city. Cheil X is an independent full-service agency under the Cheil SWA group to manage the fast growing new client mandates in India.
Talking about his appointment, Anurag Tandon said, “Cheil’s ambition to grow its new business and build a creative reputation promises to be a journey filled with challenges and opportunities in equal measure. I’m excited to be part of building a new business ground up and I know I have the support to help realise this ambition. I believe we have the vision, the expertise and the plan to quickly carve out a meaningful share of the market and establish ourselves as a key player. I am looking forward to this journey of collaborating with like-minded individuals, leveraging our collective creativity and drive to rapidly propel the Cheil X brand forward”.
Cheil SWA COO Sanjeev Jasani commented, “We are thrilled to welcome Anurag as he takes over the reins of our Mumbai office. Anurag is a well-known name in the industry with a reputation for delivering benchmark worthy work for clients across a wide range of industries. He is a valuable asset to the organization and we look forward to working with him”.
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.
