Estee Lauder Opens New Distribution Center In Switzerland

Estee Lauder Companies Inc EL has opened a new distribution center in Galgenen, Switzerland, to aid its global Travel Retail business.
The 300,000 square foot facility will expand Estee’s existing distribution footprint in Switzerland.
Travel Retail covers duty-free environments, including airports, downtown locations, airlines, cruises, and border shops.
Travel Retail segment accounted for 28% of Estee Lauder’s sales in FY21.
Price Action: EL shares are trading higher by 1.09% at $268.57 on the last check Tuesday.