Next January, Stéphane de la Faverie will assume the role of CEO of Estée Lauder. With such a major leadership change in the offing, the US cosmetics group has also announced the appointment of Olivier Dubos as managing director of Global Travel Retail. Dubos succeeds Israel Assa, who has held this position for two years, having worked with the Estée Lauder group for 23 years. Assa will help with the transition until the fiscal year ends on June 30 2025.

In his new role, Dubos will oversee the group’s global travel retail business, as well as the travel retail management team in New York and in the Asia Pacific, EMEA and Americas regions.

Dubos joined the Estée Lauder group in June 2024 as strategic advisor. Prior to this, he was the global head of sales for Fresh, the cosmetics brand owned by LVMH. Dubos joined the French luxury group in 2011. He worked for Christian Dior Parfums for 11 years, and was senior vice-president Travel Retail from 2017 to 2022. Prior to joining LVMH, Dubos worked for two years at L’Oréal.

In Q1 of fiscal 2024-25 , the Estée Lauder group, whose portfolio includes Balmain Beauty, Clinique and Deciem, among others, reported a 4% revenue slump (and a 5% one at constant exchange rates) to $3.36 billion (€3.4 billion), and a net loss of $156 million, compared to a net profit of $31 million a year earlier. The group’s revenue fell across all segments and regions, and was chiefly affected by its performance in China.