Brands
Conrad Pune flips the script with Conread, a literary salon for serious (and stylish) readers
MUMBAI: In a city where reading in public is often mistaken for prepping for UPSC, Conrad Pune is on a mission to glam up bookworming. The luxury hotel is launching Conread, a monthly literary initiative that promises to bring together sharp minds, sharper questions, and a serious love for the written word—all set against the five-star finery of one of Pune’s swankiest addresses.
Kicking off on 21 April, just ahead of World Book Day, Conread is Conrad Pune’s plush new chapter in culture curation. Think intimate conversations with top authors, deep dives into everything from fiction to finance, and evenings where literary crushes might actually be seated next to you.
The premiere edition features bestselling author and finance whiz Devina Mehra, in conversation with Mint’s head of personal finance Neil Borate. The duo will unpack Mehra’s new release Money, Myths and Mantras – The Ultimate Investment Guide, followed by an audience Q&A and book signing session.
“With Conread, we are opening our doors to a new kind of luxury which is intellectual, immersive, and community-driven. This series is our way of giving back to the cultural fabric of Pune by creating a space where book lovers and thinkers can gather, converse, be bold and stay inspired. We’re thrilled to launch this journey with Devina Mehra and look forward to many more chapters to come,” said Conrad Pune general manager Abhishek Sahai.
Mehra, who is rarely short on candour or capital insight, said, “I’m excited to be part of the inaugural edition of Conread at Conrad Pune. The combination of my two favourites, books and investing/ finance in spaces that feel open, warm, and genuinely curious, sounds just perfect. And I have no doubt this evening will be just that. I truly appreciate Conrad Pune for creating a space where stories, questions, and real-life insights could flow freely. I look forward to sharing my journey and insights with everyone.”
The concept merges literature with luxury and intellect with indulgence. Each edition of Conread promises intimate author interactions paired with that classic Conrad hospitality—elevating the humble book club into a literary salon with candlelight, canapés, and conversation that crackles.
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.
