William Lauder, Executive Chairman of the Estee Lauder companies, delivers a speech during a conference at the opening of the TFWA (Tax Free World Association) exhibition in Cannes, southeastern France, October 19, 2009. The TFWA is the World's largest Duty Free and Travel Retail Association, with a membership of around 400 brand-owning companies representing thousands of products supplied to the global duty free and travel retail markets. REUTERS/Eric Gaillard (FRANCE BUSINESS)