Aerin Lauder sells Estée Lauder stock
today May 13, 2019
Aerin Lauder, a billionaire business woman, heiress, and granddaughter of Estée Lauder, has sold her stock in her family's beauty company for over $465 million.
The sale of 2.8 million shares in Estée Lauder Companies Inc. by Zinterhofer Aerin Lauder Trust was disclosed in a corporate filing to the United States Securities and Exchange Commission. Each share was valued at an average price of $166.21.
According to the filing, Lauder is making the sale for “asset diversification, tax and estate planning and charitable giving purposes”.
Earlier this month, Estee Lauder Companies reported a revenue of $3.74 billion for the quarter, with $1.55 earnings per share, a net margin of 12.45 percent and a return on equity of 43.52 percent.
Lauder will maintain roughly 6 percent of her stock in the beauty company. She currently maintains an eponymous lifestyle brand, Aerin, which offers items in the categories of fashion, beauty, home décor, entertaining and lighting.
Copyright © 2020 FashionNetwork.com All rights reserved.