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The Estée Lauder Companies Announces Planned Leadership Team for Smashbox Beauty Cosmetics

The Estée Lauder Companies Inc. (NYSE: EL) announced today that upon closing its acquisition of Smashbox Beauty Cosmetics, Beth DiNardo will become Global General Manager of the brand. Ms. DiNardo will work closely with Budd Taylor, current President of Smashbox and Dean Factor, co-founder and Chief Executive Officer. Mr. Taylor will partner with Ms. DiNardo to lead the day-to-day business of Smashbox and will play a key role in the integration of the brand into The Estée Lauder Companies.

Ms. DiNardo has been an executive at The Estée Lauder Companies for the past 13 years and most recently served as Senior Vice President – General Manager, Darphin North America. She previously, held global leadership positions at Clinique and Rodan + Fields. Upon completion of the acquisition she will relocate to Smashbox headquarters in Los Angeles where she will focus on running the business operations and continuing to develop the brand’s accomplished team of professionals.

John Demsey, Group President, responsible for the Estée Lauder, M•A•C, Tom Ford Beauty, Prescriptives, Bobbi Brown, Jo Malone, and La Mer brands and, after the acquisition is completed Smashbox, said, “Beth has a proven track record of growing leading brands. She is recognized for her ability to identify talent and build and foster great teams. Moreover, Beth’s considerable global experience in specialty distribution channels and her recent role as co-chair of The Estée Lauder Companies’ Social and Digital Media Task Force makes her ideally suited to continue building on Smashbox’s core strengths.”

Ms. DiNardo will report to Caroline Geerlings, who will be taking on responsibilities for new businesses. Ms. Geerlings’ most recent position was Senior Vice President, General Manager, Prescriptives Worldwide. As part of Ms. Geerlings’ responsibilities, she will oversee the strategic integration of Smashbox, including extending the presence and visibility of the brand internationally and accelerating development of new products. Ms. Geerlings brings more than 25 years of global experience in the cosmetics industry, including executive roles at M•A•C Cosmetics and Christian Dior Perfumes. She will report to Mr. Demsey.

Mr. Demsey said, “Caroline is a very talented brand builder, with a keen eye for navigating brands into new markets and distribution channels. She possesses the ideal skills to nurture and grow the Smashbox business to enable it to realize its full global potential.”

Mr. Demsey said, “Budd Taylor’s commitment to Smashbox is essential in ensuring Beth and the Smashbox team have continuity and success in the brand’s day-to-day activities. His experience and overall strategic know-how of the business is key as Smashbox continues to grow and evolve in the coming months.”

On May 17th, The Estée Lauder Companies announced it had signed a definitive agreement to acquire Smashbox, the premier photo studio-inspired Hollywood cosmetics brand. The Estée Lauder Companies is developing a comprehensive integration plan to transition Smashbox into The Estée Lauder Companies after closing. The plan will be executed by a dedicated team who will oversee integration, while Ms. Geerlings and Ms. DiNardo will manage the brand’s global operations.

Smashbox Beauty Cosmetics was founded in 1996 by Dean and Davis Factor, great-grandsons of the makeup legend Max Factor, and is a strategic complement to The Estée Lauder Companies’ portfolio of leading prestige cosmetic brands including M•A•C and Bobbi Brown. The acquisition of Smashbox advances The Estée Lauder Companies’ strategic goals of widening its presence in higher-growth specialty channels in North America, such as Sephora and Ulta, and in QVC. Additionally, Smashbox Beauty Cosmetics brings a particular expertise in online consumer outreach and digital and social media, which The Estée Lauder Companies plans to leverage.

The forward-looking statements in this press release, including those in the quoted remarks and those relating to the expectations for closing the acquisition and the benefits of the acquisition, involve risks and uncertainties. Factors that could cause actual results to differ materially from those forward-looking statements include current economic and other conditions in the global marketplace, actions by retailers, suppliers and consumers, competition, the Company's ability to successfully integrate the acquired business and/or implement its long-term strategic plan, and those described in the Company's annual report on Form 10-K for the year ended June 30, 2009.

About The Estée Lauder Companies Inc.

The Estée Lauder Companies Inc. is one of the world's leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The Company's products are sold in over 140 countries and territories under the following brand names: Estée Lauder, Aramis, Clinique, Prescriptives, Lab Series, Origins, M•A•C, Bobbi Brown, Tommy Hilfiger, Kiton, La Mer, Donna Karan, Aveda, Jo Malone, Bumble and bumble, Darphin, Michael Kors, American Beauty, Flirt!, Good SkinTM, Grassroots Research Labs, Sean John, Missoni, Daisy Fuentes, Tom Ford, Coach and Ojon.

Contacts:

The Estée Lauder Companies Inc.
Investor Relations:
Dennis D’Andrea, 212-572-4384
or
Media Relations:
Alexandra Trower, 212-572-4430

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