March 10, 2022
(press release)
–
The Estée Lauder Companies continues to be devastated by the tragic invasion of Ukraine. We stand with all those that are suffering, including our employees and their families and the people of Ukraine. The company continues to take significant steps to support the safety of our employees in Ukraine, including the continuance of all compensation, maintenance of regular communication, as well as offering relocation assistance for those who choose that measure of support. Additionally, The Estée Lauder Companies Charitable Foundation (ELCCF) has already committed $1 million in support of relief efforts in Ukraine and the company will be donating ELC products to those displaced and in need. ELC Good Works, our employee charitable matching gifts program, will double match eligible employee donations to various disaster relief nonprofits year-round, including organizations already active in Ukraine and in neighboring countries. Further, after having already suspended The Estée Lauder Companies' business investments and initiatives in Russia last week, we have also decided to suspend all commercial activity in Russia, including closing every store we own and operate, as well as our brand sites and shipments to any of our retailers in Russia. Our top priority remains the safety of all our employees and we have decided to continue to provide compensation and support to our employees in Russia at this time. We will continue to monitor this tragedy and take actions consistent with our company values.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.
