Estée Lauder Companies
| Estée Lauder Companies Inc.
|
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|---|---|
 |
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| legal form | Inc. |
| ISIN | US5184391044 |
| founding | 1946 |
| Seat |
New York City , NY United States
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| management | William P. Lauder (Executive Chairman),
Fabrizio Freda (President and CEO) |
| sales | $ 14.86 billion (2019) |
| Branch | Cosmetics |
| Website | www.elcompanies.com |
Estee Lauder Companies is a 1946 by Estee Lauder founded and since 1995 in the share index S & P 500 -listed American cosmetics company headquartered in New York City .
Under the brand name Estée Lauder , care and decorative cosmetics and perfumes for women and men are now available in over 150 countries worldwide . The group includes over thirty other brands, some of which are internationally known, which the Estée Lauder Companies either founded or bought out over the course of the company's history .
Company history
The company was founded in 1946 by Estée Lauder (1908-2004) together with her husband Joseph Lauder, a textile entrepreneur who acted as chief financial officer. Estée Lauder had the idea of marketing beauty products before after her uncle moved from Hungary to her family in the USA and touched skin creams there. The Lauders' first products, which they made at home in the beginning, were a cream, a cleansing oil , a face mask and a skin lotion ( Super-Rich All Purpose Creme , Cleansing Oil , Creme Pack , Skin Lotion ). The couple initially sold these four products under the brand name Estée Lauder in New York beauty salons and hotels and eventually received an order for $ 800 from the New York luxury department store chain Saks Fifth Avenue in 1947 in response to customer demand . Right from the start, the Lauders offered their customers a gift, for example a face powder, as an incentive to buy when they bought products with a certain minimum value. In 1950, the first Estée Lauder counter was inaugurated in the cosmetics department of a Neiman Marcus store in Dallas .
In 1951 the Estoderme Youth-Dew Creme was launched, which contained a whole chicken egg per jar . With the later managing director Arnold van Ameringen, Estée Lauder created a bath oil from flower and herbal extracts called Youth Dew in 1953, which became a bestseller . In the same year, a perfume by Estée Lauder, the women's fragrance Youth Dew , followed for the first time , and with the then immense retail price of $ 115, the Re-Nutriv face cream . In 1960 the international expansion began with an order from Harrods in London ; In 1965 a Lauder factory building was inaugurated in Oevel , Belgium . In 1962, Estée Lauder had well-known models such as Phyllis Connor, Karen Harris, Karen Graham, Shaun Casey or Willow Bay advertise their products as spokeswoman for the first time. The Lauders' new research and production center opened its doors in 1967 in Melville, New York.
In the following decades, the Lauders built the company into a globally successful cosmetics group, against the established companies Helena Rubinstein , Elizabeth Arden and Revlon . In 1989 the first Estée Lauder perfumery opened in Moscow . Today, Estée Lauder products, which in addition to the main Estée Lauder brand now include over 30 other brands, are available in around 150 countries around the world.
Over the years, the portfolio had been expanded to include other brands. In 1960 the men's brand Aramis was launched, in 1967 the prestige brand Clinique in collaboration with the New York dermatologist Norman Orentreich. The Lauders came up with the name 'Clinique' based on the French expression for beauty clinic , clinique aesthetique . Clinique saleswomen wear white lab coats . Entry into the German market was made more difficult in 1972 because the Berlin Association of Social Competition eV had the company forbidden the brand name Clinique in Germany due to possible confusion with pharmaceutical products . Until a court ruling by the ECJ in 1994, products of the Clinique brand were therefore marketed in Germany by Estée Lauder under the name Linique . In 1979, on the initiative of the Lauders' second eldest son, Ronald Lauder , the brand for decorative cosmetics Préscriptives was launched. In 1990 William P. Lauder, son of Leonard Lauder , introduced the wellness cosmetics brand Origins . In 1994 the cosmetics company MAC from Toronto was taken over by Estée Lauder, initially with 51% of the shares and in 1998 with 100%. Other brands belonging to the Estée Lauder Companies include: La Mer (acquired in 1995), Bobbi Brown , Aveda (1997), Jo Malone London (1999), Darphin , Smashbox Cosmetics (2010), Bumble & Bumble (2000 / 2006), AERIN Beauty (2012), GLAMGLOW (2014).
In 1982 Leonard Lauder, Estée Lauder's eldest son, took over the management of the company as President and Managing Director. Leonard Lauder had married Evelyn Hausner in 1959 , who subsequently created the training program for Estée Lauder saleswomen. In 1993 the Chinese market was conquered with the Estée Lauder and Clinique brands . In 1987 the men's cosmetics brand (Aramis) Lab Series Skincare for Men was presented.
Estée Lauder has released a total of over 70 perfumes for women since 1953 and also for men since 1985. Among the best-known, alongside Youth Dew (1953), are the perfumes Estée (1968), Azurée (1969), Alliage (1972), Private Collection (1973), Cinnabar (1978), White Linen (1978), Beautiful (1985) and Lauder for Men (1985), Knowing (1988), Spellbound (1991), Tuscany (1992), Pleasures (1995), Pleasures for Men (1997), Intuition (2000), Intuition for Men (2002), Sensuous (2008), AERIN Essentials Collection (2012), Modern Muse (2013).
In 1995 the Estée Lauder Companies began producing perfumes under license for other companies, initially for the Tommy Hilfiger Corporation with the women's fragrance Tommy . This was followed by fragrances for Kiton (since 1995), Donna Karan (1997), Michael Kors (2003), Sean John , Missoni , Daisy Fuentes , Tom Ford (2005), Coach (2006), Ermenegildo Zegna (2011), Marni (2011 ) and Tory Burch (2013).
In 1995 the Estée Lauder Companies went public in New York and Estée Lauder withdrew from day-to-day business. 1996 began with online stores of the brands on the websites Clinique and Bobbi Brown of Electronic Commerce . At the end of 2001, Leonard Lauder established the lipstick index as an economic indicator . The corporate empire Estée Lauder Companies was valued at around ten billion US dollars in 2004, the year the company's founder died. In 2019, annual sales were $ 14.86 billion.
Since July 1, 2004 William Lauder, grandson of Estée Lauder and son of Evelyn and Leonard Lauder, has been the managing director of the group. The Board of Directors includes the following people: William Lauder (CEO), Fabrizio Freda ( Chief Executive Officer ), Leonard Lauder (Honorary Chairman), Jane Lauder ( Clinique ), Aerin Lauder, Wei Sun Christianson (Asia Business), Charlene Barshefsky , Rose Marie Bravo , Lynn Forester de Rothschild, Mellody Hobson, Irvine Hockaday, Ronald Lauder, Richard Parsons, Richard Zannino and Barry Sternlicht.
Individual evidence
- ↑ With MAC, Estée Lauder Enters Emerging Markets businessweek.com of March 21, 2013
- ↑ Annual Report 2019. Accessed on July 18, 2020 (English).