Estée Lauder is shifting its strategy toward pricing to boost the image of its luxury beauty brands, CEO Fabrizio Freda says at UBS Global Consumer and Retail Conference. The executive acknowledged that “there’s been too much discounting” due to the volatility seen during Covid-19, and said the company has “all the plans to reabsorb these discounts correctly without impacting volume.” The company is also maximizing the capacity utilization of its factories. These measures are aimed at boosting Estée Lauder’s gross profit, Freda adds. Shares fall 3.3% to $152.76.