Estée Lauder will close the global wholesale distribution of its Prescriptives brand by January 31, 2010. The brand is currently sold in the United States, Canada, the United Kingdom, Ireland and Australia.
The Estée Lauder Companies’ management said the brand’s long-term business model is no longer viable given the current market environment. “We believe that the difficult decision relating to Prescriptives will allow us to redirect our resources to key strategic imperatives where we see the highest growth potential,” commented Fabrizio Freda, President and Chief Executive Officer, The Estée Lauder Companies.
The company said online sales for United States shipping will continue at www.prescriptives.com to help service consumers for replenishment of key products, while inventory lasts.