Estée Lauder Cos. is exploring acquisition opportunities as part of its turnaround strategy under CEO Stéphane de La Faverie. The beauty conglomerate, which owns prestige brands like Jo Malone and Le Labo, is entering the second year of a comprehensive restructuring plan aimed at revitalizing its portfolio and improving financial performance.

The company's openness to M&A comes as the beauty industry faces shifting consumer preferences and increased competition from both established players and indie brands. Estée Lauder has been working to streamline operations and focus on its most profitable segments after experiencing challenges in recent years, including the impact of reduced travel retail sales and changing shopping behaviors.

While specific targets haven't been disclosed, the company's M&A appetite signals a strategic shift toward growth through consolidation rather than organic expansion alone. The move reflects broader industry trends where larger beauty conglomerates seek to acquire innovative brands to stay relevant with younger consumers and strengthen their market position.