EL · 10-K filed 19 Aug 2026 · year to 30 Jun 2026

Estée Lauder

22 named things its latest annual report says its results depend on, each in the company's own words. 11 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Travel retail

earns fromnamed as a risk

Events that impact consumers’ willingness or ability to travel or purchase our products while traveling may impact our business, including travel retail, a significant contributor to our overall results, and our strategy to market and sell products to international travelers at their destinations.Risk factors (Item 1A)

Department stores

earns fromnamed as a risk

In certain key markets, such as the United States, we have seen a longer-term decline in retail traffic in our department store customers.Risk factors (Item 1A)

Suppliers

Single-source suppliers

depends onnamed as a risk

Some of our products rely on a single or a limited number of suppliers.Risk factors (Item 1A)

Also named by ACHR, AMAT, BAX, BSX, BWXT, CL, DOV, ETN and 11 more

Partners and platforms

Balmain S.A.

depends on

Balmain Beauty was established in 2022 under a license agreement with Balmain S.A., extending the storied legacy of the Parisian fashion house founded in 1945 by Pierre Balmain into a new era of luxury beauty.Business (Item 1)

Single global media partner

depends on

Powered by a single global partner and an enterprise-led approach to media planning and buying, this model unlocks greater scale, precision, and impact, thus strengthening our ability to generate and capture demand while improving media effectiveness, efficiency, and agility across markets.Business (Item 1)

Other companies

TOM FORD

earns from

The other category includes royalty revenue from our licensing of the TOM FORD trademark to third parties as well as sales from ancillary products and services that do not fit within the definitions of skin care, makeup, fragrance, and hair care.Business (Item 1)

Forest Essentials

We have several minority investments as of June 30, 2026, including a company based in India that manufactures, markets and sells Ayurvedic skin care and other products under the Forest Essentials brand name, primarily in India, for which we have signed an agreement, subject to regulatory approvals, to acquire the remaining interest, as well as an investment in a luxury skin care brand, with proprietary formulas designed to support skin repair and resilience at the cellular level.Business (Item 1)

Competitors

L'Oreal S.A.

competes with

Our competitors include L’Oreal S.A.; Unilever PLC; Procter & Gamble Co.; LVMH Moët Hennessey Louis Vuitton SE; Chanel Limited; Beiersdorf AG; Shiseido Company, Limited; Coty Inc.; and Puig Brands, S.A.Business (Item 1)

Also named by RL

LVMH Moët Hennessy Louis Vuitton SE

competes with

Shiseido Company, Limited

competes with

Places

China

earns fromnamed as a risk

Our inability to continue to compete effectively in key countries around the world (e.g., China or the United States) could have a material adverse effect on our business.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

United States

earns fromnamed as a risk

Our inability to continue to compete effectively in key countries around the world (e.g., China or the United States) could have a material adverse effect on our business.Risk factors (Item 1A)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

Switzerland

operates in

We manufacture our products primarily in our own facilities in Belgium, Canada, Japan, Switzerland, the United Kingdom and the United States, and we also leverage global third-party manufacturing networks.Business (Item 1)

Also named by EW, GGG, HSY, ISRG, MTD

Belgium

operates in

Also named by BNY, COO, HROW, LBTYA

Mainland China

earns from

Our online sites, including our brand.com sites as well as those operated by authorized retailers and through third-party online platforms are across our geographic regions, with a majority of these online sales generated in mainland China, the United States and the United Kingdom.Business (Item 1)

Hazards

Asbestos-related claims

named as a risk

We are mindful of the evolving litigation landscape related to asbestos-related claims, and continue to monitor trends in this area.Risk factors (Item 1A)

Also named by LII

Commodities and inputs

Essential oils

depends on

The principal raw materials used in the manufacture of our products are essential oils, alcohols and specialty chemicals.Business (Item 1)

Also named by CL

Specialty chemicals

depends on

The principal raw materials used in the manufacture of our products are essential oils, alcohols and specialty chemicals.Business (Item 1)

Also named by WDFC

Alcohols

depends on

The principal raw materials used in the manufacture of our products are essential oils, alcohols and specialty chemicals.Business (Item 1)

Regulators

New York Stock Exchange controlled company exemption

subject to · more than 50%named as a risk

The Lauder family and their related entities own more than 50% of the total voting power of our common shares and, as a result, we are a “controlled company” under the New York Stock Exchange corporate governance standards.Risk factors (Item 1A)

Laws and programs

General Data Protection Regulation (GDPR)

subject tonamed as a risk

These changes include accounting standards, as well as laws and regulations relating to tax matters, trade (including sanctions), data privacy (e.g., General Data Protection Regulation (GDPR)), cybersecurity, anti-corruption, advertising, marketing, manufacturing, distribution, customs matters, product registration, ingredients, chemicals, packaging, selective distribution, and environmental or climate change matters.Risk factors (Item 1A)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

U.S. import tariffs

subject tonamed as a risk

For example, tariffs imposed on goods we import into the United States and/or tariffs on goods we import into other countries could have a material adverse effect on our business, as could geopolitical tensions involving countries that are key markets for us, or where we manufacture our products or source ingredients.Risk factors (Item 1A)

Also named by AOS, APLD, BJ, BMI, CAVA, CVLG, CVS, DKS and 18 more