Wipro to lose upto $100mn business as Accenture wins work from cosmetics major Estée Lauder

Following a July-June fiscal calendar, Estée Lauder finished last fiscal year with $14.33 billion, down 8% year-over-year. This marked the company’s third annual revenue decline, which it attributed to a post-covid decline in travel retail and contract work from China. The company initiated a restructuring plan in 2024 in which it will partner with a smaller number of managed services providers to meet its IT needs.