Estée Lauder Hires Advisers to Review Brands and Spur Recovery

Estée Lauder Cos. said it has hired external advisers to conduct a review of the brands it owns in a bid to accelerate a turnaround after years of sales declines.

Chief Executive Officer Stéphane de La Faverie said the company is rethinking its portfolio in order to “focus on our highest return opportunities over the medium to long term,” he told analysts on an earnings call. “We will share updates in due course,” he added.

The company has a variety of brands that focus on selling skin care, cosmetics, haircare and fragrances. In the most recent fiscal year, sales in ...