MAM
PHD makes two Delhi appointments
MUMBAI: PHD India has strengthened its leadership team in Delhi with the appointment of Dipika Bhasin as the new head of Delhi office while Anuj Madan has been elevated to Delhi digital lead.
PHD India CEO Jyoti Kumar Bansal says, “The appointments reflect the growing demands of our clients based in North India and the volume of activity the Delhi office now manages, especially after the Vivo digital account win and the growth in mandates from HP, SC Johnson and other clients. With Dipika’s deep-rooted knowledge of the North India market and how to make brands thrive there, as well as Anuj’s digital prowess, I am confident that we will continue to see more impressive wins come out of our office in Delhi.”
Bhasin brings over 17 years of experience, joining from sister-agency, OMD, where she spent six years and most recently served as vice president for the Delhi office. Prior to joining Omnicom Media Group in 2011, Bhasin developed extensive media experience through roles at Zee Telefilms, Carat and Aircel.
Dipika Bhasin mentions, “PHD has demonstrated impressive growth, having been recognised as Campaign’s Agency of the Year last year and won prominent international and local business in recent years. I am excited to be joining the team and continuing the momentum in Delhi and North India.”
Madan has an experience in transforming digital businesses for brands like Renault, HP India, Samsung, Amex, Lufthansa and Swatch, among others, over the last 12 years. Prior to joining Omnicom Media Group in 2015, Madan served as a business director at Cheil Worldwide and Mindshare, leading the digital business to build brands by driving high performance marketing.
Anuj Madan adds, “It’s been great to have played a part in PHD’s growth journey in Delhi during my role at Omnicom Media Group, with the recent Vivo win a testament to the agency’s superior digital offering in the market. I look forward to working with Vivo and our other clients in North India on raising their digital credentials and driving real business performance for them as a result.”
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.
