Make-up maker sees moderate economic growth

http://www.FT.com/ Fabrizio Freda, chief executive of Estée Lauder, tells the FT's Barney Jopson that US luxury spending is improving and there is still a place for magazine and TV advertising. Despite being invited by the Lauder family to transform a business where sales were slumping under family leadership, Freda says family control still has advantages.

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