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More Than Just a Pretty Face

Learn about Estee Lauder's journey to becoming an entrepreneur and developing the successful Estee Lauder Companies Inc.

Estee Lauder

Background

  • 1930- married Joseph H. Lauter, a businessman in the garment industry
  • 1933- had their first son, Lauder
  • Continued to develop her beauty business through motherhood
  • 1939- divorced her husband but remarried him 3 years later
  • 1944- gave birth the second son, Ronald
  • Beautician and business executive
  • Birth date: July 1, 1908
  • Place of birth: Queens, New York
  • Death date: April 24, 2014
  • Place of death: New York, New York

Estee Lauder Inc.

  • 1946: advanced her cosmetic business by forming a corporation
  • Estee Lauder Inc. originally was run by her and her husband
  • Only offered a handful of products
  • Products were originally made in the kitchen of a former restaurant

Background

Obstacles

  • Showed interest in beauty at a young age by brushing her mother's hair and applying face creams
  • Learned to make her own beauty creams from her uncle, a chemist
  • Began selling her products as a teenager at local hair salons
  • Marketed her wares as "jars of hope" and gave out free samples

Accomplishments

  • She had to pursue her career while trying to balance motherhood
  • Hostility at home between herself and her husband
  • Marriage issues resulting in divorce, and then remarriage
  • There was a limited work space before her company became a corporation

Company Changes

  • 1985: Lauder shared journey to high status and wealth in an autobiography Estee: A Success Story
  • 1995: Company went public
  • Her company was valued at $2 billion

Company Breakthrough

  • 1973: Lauder reduced her role in company's day-to-day operations
  • She resigned as post but remained company's chairman of the board
  • 1983: husband died and she established the Joseph H. Lauder Institute of Management and International Studied at the University of Pennsylvania
  • 1947: Saks Fifth Avenue ordered $800 in her products
  • These items were popular and sold out in 3 days
  • 1953: launched Youth Dew product which was a bath oil that doubled as a perfume and was a hit with consumers
  • Business continued to thrive in the next decade and expanded overseas
  • Launched the Clinique brand and men's product line Aramis

Qualities for Success

Product Emphasis

  • Business efficient
  • Passionate
  • Intense drive
  • Motivation
  • Self-disciplined
  • Marketing strategy: originated the practice of giving a free gift
  • Fragrances
  • Skin care products
  • Makeup
  • Men's toiletries

It's an honor to be a part of the Estee Lauder family

Works Cited

What Can I Learn?

Affect On the Economy

  • It is important to find something that you are passionate about. Lauder was passionate about cosmetics so she enjoyed her work.
  • It is okay to start small. Lauder began by making her own cosmetics, then opened a company, which eventually became a million dollar corporation
  • It is smart to use some type of incentive as a marketing strategy. Lauder gave away a free item with purchases to encourage buyers.
  • It is possible to balance motherhood and be a successful entreprenuer

Brains Behind the Beautiful

Current Status of Company

  • Has employed 15,000 people
  • Grossed nearly $3.4 billion
  • Her innovative product ideas and business strategies have turned the beauty business into an international industry
  • Her company still remains in the family
  • Her oldest son, Leonard, is the chairman emeritus of the Estee Lauder Companies
  • Her younger son, Ronald, is the chairman of Clinique Laboratories
  • Her grandson, William, is the executive chairman of the Estee Lauder Companies
  • Incorporate high end models to represent the company
  • Company continues to thrive and includes product lines like Estee Lauder, Mac, Clinique
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