Estée Lauder Cos. Inc. said Thursday it will shut down wholesale distribution of its 30-year-old Prescriptives brand by Jan. 31. Products will continue to be available through the brand’s Web site for consumers needing replenishment, until supplies run out.
Without elaboration, the company stated: “A core component of the Estée Lauder Companies’ corporate strategy is to evaluate, and where possible, turn around underperforming brands with the goal of improving return on investment. After a thorough analysis of the Prescriptives brand, management concluded that 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,”
I think Prescriptives has always had an identity problem. The products were nice and solid, but the image was lacking in personality. Not fabulous enough to attract new customers and not cheap enough to fly off the shelves. They lacked sex appeal and/or glamour, and I guess in this economy you got to have some kind of hype.
Are you a Prescriptives user? Are you surprised?
Info and quotes: WWD.com