Le Labo, Demsey says, has "huge scale potential," and it's now undergoing a retail push by building its own freestanding stores along with its presence in Nordstrom. By Kilian, by contrast, is about two years away from a "big scale-up."

But growth expectations differ for each new acquisition: Because of Frédéric Malle's refined, high-end positioning, for example, Demsey is careful not to overblow its short-term commercial horizon.

"It's a very distinct customer, and when you're dealing with a very distinct customer, you don't want to upset the apple cart," Demsey explains.

— John Demsey of Estée Lauder talks to Racked about the company's recent acquisitions. Read more at The Estée Lauder Beauty Playbook.