Brands
Indian sports sponsorship scores big, nearing $2 billion mark
MUMBAI: The Indian sports sponsorship scene has flexed its muscles, punching through the Rs. 16,633 crore barrier, according to GroupM ESP’s latest Sporting Nation report. That’s a six per cent year-on-year growth, propelling the overall market towards a cool $2 billion. Since 2008, the sector’s seen a sevenfold surge, a proper blinder of a result.
While cricket remains the undisputed captain, the rise of non-cricket sports is giving it a run for its money. Athlete endorsements have hit an all-time high, leaping 32 per cent to Rs. 1,224 crore. Forget just sixes and wickets, we’re talking about the likes of Neeraj Chopra and PV Sindhu, who’ve spearheaded a 46 per cent hike in non-cricket endorsements. The Olympic buzz has clearly got everyone’s knickers in a twist, boosting emerging sports sponsorships by 19 per cent. Fancy a jog? Distance running alone accounts for a quarter of that, showing India’s keen to get its trainers on.
GroupM South Asia chief operating officer Ashwin Padmanabhan reckons industry is continuing its remarkable trajectory, but the industry is e witnessing a dynamic shift driven by both legacy and emerging sports. “Cricket’s still the cornerstone, but the non-cricket athletes, the Olympic buzz, and the digital revolution are reshaping the landscape. With brands increasingly recognising the power of sports as a platform for deeper consumer engagement, the momentum is undeniable. This is not just growth in numbers—it’s the
evolution of an industry that is more diverse, digital, and driven by innovation than ever before,” he said.
GroupM India managing director content, entertainment & sports Vinit Karnik, chipped in, saying, The
Indian sports economy has firmly established itself as a high-growth sector, surging 7x since 2008 to near the $2 billion mark. While traditional powerhouses continue to drive momentum, the real story lies in the rise of emerging sports, athlete-driven brand value, and the digital explosion, which alone saw a 25 per cent jump in media spends. The record-breaking Rs. 1,224 crore in athlete endorsements signals a shift—brands are betting big on individual icons across sports. As we enter a new era of engagement, innovation will be key in unlocking the next wave of commercial success in Indian sport.”
Despite a slight wobble in sponsorship growth this year, thanks to IPL and ICC rights resets, the market’s showing its staying power. With digital engagement going through the roof and audience preferences swerving faster than a fast bowler’s out swinger, the Indian sports scene is poised for even more fireworks. It’s a proper scorcher.
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.
