ESTEE LAUDER
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WHO IS ESTEE LAUDER?
"I didn't get here by dreaming or thinking about it. I got here by doing it."-Estee Lauder
Biography:
Estée Lauder
Born in July 1, 1906; at Corona, Queens, New York City.
was an American businesswoman
Had 2 children, Leonard, Ronald
She was the co-founder, along with her husband, Joseph Lauter (later Lauder) of Estée Lauder Companies, her eponymous cosmetics company.
At age 95 (or 97), Lauder died of cardiopulmonary arrest on April 24, 2004 at her home in Manhattan
Childhood & Early life:
Her father owned a hardware store and the family used to live in store.
Store was the first place where Estee acquired the basic sense and elements of business.
After graduating from Newtown High School, she focused on her uncle's business. She named one of his blends Super Rich All-Purpose Cream and began selling his products to her friends.
In 1953, Lauder introduced her first fragrance, Youth Dew, a bath oil that doubled as a perfume.
Lauder was a subject of a 1985 TV documentary, Estée Lauder: The Sweet Smell of Success. Explaining her success, she said, "I have never worked a day in my life without selling. If I believe in something, I sell it, and I sell it hard."
Career:
Estée Lauder started her own beauty company in 1946. Her business, which includes such product lines as Estée Lauder, MAC Cosmetics and Clinique, continues to thrive to this day.
Selling over in 120 countries and generating revenues of billions of dollars per year.
She ran in elite social circles, attending parties thrown by the likes of Nancy Reagan
STRATEGY:
She landed her first department store order for her cosmetics. Saks Fifth Avenue ordered $800 in her products, which sold out in two days. Lauder also originated the practice of giving a free gift with purchase marketing strategy around this time.
Lauder’s best idea was to cooperate with famous department stores in the country such as Saks, Blooming Dales and Macy’s, etc.
That approach gave the company a high prestige and it convinced customers in high quality of the products.
Designed a global strategy to retain market share and maintain market leadership in its prestige cosmetics brands.
Leadership was identified as a key driver of this strategy
- an enabler of innovation and attraction
- and retention of talent
Start with, developed a leadership strategy, a leadership competency framework for three leadership levels, and leadership success profile
Estee launced a program for its executives (managing directors and direct report)
The company then developed a bespoke leadership program “E3” for the other layers of leadership.
The leadership program has been highly impactful for participants, 60% of whom were successful in changing their behavior and operating at a high level
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