雅诗兰黛Estee Lauder (EL) 2008年年度报告「NYSE」.pdf

1、 THE ESTE LAUDER COMPANIES INC.2008 ANNUAL REPORT767 FIFTH AVENUE NEW YORK,NEW YORK 10153 THE ESTE LAUDER COMPANIES INC.THE ESTE LAUDER COMPANIES INC.2008 ANNUAL REPORT140298,000,000,00066732es_cov 166732es_cov 19/19/08 10:06:32 PM9/19/08 10:06:32 PMTODAY,OUR PRODUCTS ARE SOLD IN MORE THAN 140 COUNT

2、RIES AND TERRITORIES.WE HAVE 29 BRANDS.AND WE ACHIEVED NEARLY$8,000,000,000 IN GLOBAL SALES.HOW WE GROWOur strategy for profi table growth is maintaining our unwavering commitment to“bringing the best to everyone we touch”while continually expanding into new regions,new distribution channels and new

3、 brands.This is our story.66732es_cov 266732es_cov 29/19/08 10:06:32 PM9/19/08 10:06:32 PMCONTENTS 2 Chairmans Message 4 Chief Executives Review 9 Fiscal 2008 Highlights 14 Multi-National Expansion 20 Multi-Channel Distribution 26 Multi-Brand Leadership 42 Portfolio of Brands 52 Board of Directors 5

4、3 Executive Offi cers 54 Financial Section 110 Managements Report on Internal Control Over Financial Reporting 111 Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting 112 Report of Independent Registered Public Accounting Firm 113 Stockholder Informat

5、ion66732es_txt 166732es_txt 19/24/08 1:24:59 PM9/24/08 1:24:59 PM2HOWWEGROWENTREPRENEURSHIP IS IN OUR BLOOD,from our founder to our beauty experts who advise our consumers.LEONARD A.LAUDER66732es_txt 266732es_txt 29/24/08 3:18:24 PM9/24/08 3:18:24 PMDear Fellow Stockholders:Every year for the past 6

6、2 years,The Este Lauder Companies has continued to grow.I am proud to report that thanks to the efforts of our 32,000 dedicated employees,we continued that trend with excellent fi nancial results in the 2008 fi scal year.I am often asked how the Company will maintain its growth record as we look for