Investing.com -- New York-based cosmetics company, Estée Lauder Cos, is reportedly reviewing its portfolio of beauty brands. The move comes as the company is transitioning to new leadership and seeking ways to enhance its share price, according to a report from Bloomberg, citing familiar with the situation.
Estée Lauder has engaged Evercore Inc. in this review process, which could potentially result in the sale of some brands. The sources, who wished to remain anonymous due to the confidential nature of the information, did not disclose which brands might be included in the potential sale.
Estée Lauder's portfolio includes well-known brands such as Clinique, Smashbox, Tom Ford (NYSE: F ), and Aveda.
Over the past 12 months, Estée Lauder's shares have dropped by nearly 40%. In an attempt to turn things around and enhance share price performance, the company appointed Stéphane de La Faverie as its new CEO in October.
The Lauder family, which retains significant control over the company, owns about 38% of Estée Lauder’s total common stock and about 86% of the voting power.
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