ELC's Fabrizio Freda Talks To CNBC's Jim Cramer About Rising Online Sales During Covid-19

Skincare is driving online beauty sales, even during social distancing. Estee Lauder Companies' CEO Fabrizio Freda spoke to CNBC's Jim Cramer on "Mad Money"  -- watch the short video of the phone interview below.

"Consumers are finding a way to buy our products online," Freda says, as Cramer asked, "What drives people to buy makeup and skincare when they're not going anywhere?" 

Freda replies, "Consumers around the world are buying more skincare. They are thinking about wellness - they want to pamper themselves..." 

Estee Lauder Companies posted its latest financial results, and its online business grew by double digits last quarter during the coronavirus pandemic. 

CNBC reports, "Compared with double-digit declines in its makeup, hair care and fragrance categories as deep as 21%, skin care product sales dipped about 1% during the first three months of 2020, which were affected by the Covid-19 outbreak."