Breaking News - Estee Lauder To Close PrescriptivesEmail thisPosted Sep 17th 2009 at 5:25PM by Laura Kenney (RSS feed)
Filed under: Style in the News, Cosmetics, Skin Care
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RIP Prescriptives: The 30-year old skincare company will shutter on January 31.
It's a sad day for skincare junkies.
Estée Lauder announced today that it will shutter Prescriptives, the 30-year old skincare brand.
An email, which was sent out to Lauder employees at 5:01 PM from William Lauder and Fabrizio Freda, stated that global wholesale distribution of Prescriptives will cease by January 31, 2010. The brand's website will remain open until products run out. You can view the full press release here.
The email stated: "As we outlined in our long-term corporate strategy, we are evaluating, and where possible, working hard to turn around under-performing brands. After a thorough analysis of the Prescriptives brand, we have concluded that the brand's long term business model is no longer viable in the current market environment.
"We believe that this decision will allow The Estée Lauder Companies to redirect and more sharply focus our resources to key strategic imperatives where we see the highest growth potential for our Company."
From their Magic foundations to Super Liner Preventor Xtreme to Calyx fragrance, the news of the closure has invoked near violent reactions at StyleList headquarters. We editors are rushing to Prescriptives.com to stock up on our favorite goods.
Which product will you miss the most?
Hope Migs will be alright
