Estée Lauder to produce coronavirus-fighting hand sanitizer
The beauty company is cooking up hand sanitizer to combat the spread of COVID-19
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Hand sanitizers are in such high demand because of the coronavirus pandemic, that it’s hard to find the product on store shelves, so Estée Lauder will switch gears from cosmetics manufacturing to produce hand sanitizer, according to a Monday report from Women’s Wear Daily.
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The decision comes shortly after competing beauty and fashion conglomerates L’Oréal and LVMH announced their hand sanitizer initiatives in Europe.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| EL | THE ESTÉE LAUDER COMPANIES INC. | 63.75 | -1.08 | -1.67% |
| LRLCY | L'ORÉAL SA | 68.61 | -0.03 | -0.04% |
| LVMUY | LVMH MOËT HENNESSY LOUIS VUITTON SE | 124.51 | +1.29 | +1.05% |
Estée Lauder will reopen its manufacturing facility in Melville, N.Y., to produce hand sanitizer for medical staff.
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“The Estée Lauder Companies is proud to contribute to the broader COVID-19 relief efforts by reopening our Melville manufacturing facility this week to produce hand-sanitizer for high-need groups and populations, including front-line medical staff," a spokesperson for The Estée Lauder Companies told FOX Business. "We are grateful to our employees who have worked tirelessly to make this possible. Compensated, employee volunteers will support this vital, meaningful effort.”
Other industries are stepping up to produce hand sanitizer too. Tito's Handmade Vodka plans to produce 24 tons of sanitizer during the next several weeks, which will be distributed for free. Federal officials are permitting distilling companies to produce sanitizer to help alleviate the shortage.
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Estée Lauder has also recently pledged to donate $2 million to Doctors Without Borders/Médecins Sans Frontières as a way to support coronavirus treatment in countries that have been severely affected or lack health care resources, according to a company press release.
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“The Estée Lauder Companies stands with the global community to help limit the spread of the virus and ease the related economic hardships faced by the communities in which we live and work,” the statement reads. “Guided by its family values and a spirit of giving, the company has made contributions to support the well-being of our global communities.”
In the United States, the number of coronavirus infections has surpassed 50,200, according to the Johns Hopkins COVID-19 tracker. The United States is second to Italy, which has more than 69,100 people confirmed to have the virus.