Estee Lauder takes the fight to breast cancer
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Estee Lauder takes the fight to breast cancer

October is breast cancer awareness month, and beauty giant Estee Lauder is getting involved. The company has set itself an ambitious goal: by September next year, it wants to raise $8 million to fund research, education, and medical services that “bring us closer to a cure, and give patients all over the world more time to live better, healthier lives.” Unsurprisingly, the theme of its 2018 campaign is simply titled ‘Time to end breast cancer’. It’s just the latest in a long line of initiatives Estee Lauder has used to fight the disease.

Estee Lauder’s share price has risen by 9% so far this year

graph 0910 esteelauder

SOURCE: Yahoo Finance

Estee Lauder’s interest in breast cancer goes back to 1992, when the late Evelyn H. Lauder (a senior vice president of the company) co-created the iconic pink ribbon that still stands for the fight against breast cancer. The company has continued to run campaigns ever since. To date it has contributed more than $76 million globally, and funded 250 medical research grants.

This year, Estee Lauder will undertake a number of projects to raise the cash. They include covering a number of landmark buildings worldwide (such as the Empire State Building and the Eiffel Tower) in pink lights to raise awareness of breast health. It will also encourage its 46,000 employees to “positively impact communities and unite in action.”

The company’s chairman, William P. Lauder, made the following statement over Estee Lauder’s on-going work: “When my mother, Evelyn Lauder, started the campaign in 1992, she had a clear vision: to end breast cancer. Through the unwavering support of our employees, partners and consumers around the world, we come closer and closer to a cure and to making her dream a reality through sustained investment in education and research.”

Disclosure

Dominion holds Estee Lauder in its Global Trends Luxury Fund.


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