The Pivotal Role Played by Business Expertise In The Success Of The Estee Lauder Company
William Lauder is a prominent American businessman and one of the revolutionary leaders in the beauty and cosmetic industry in the USA. He is the grandson of Mrs Estee Lauder- the founder of The Estee Lauder Company. Mrs Estee Lauder established her Company in 1946 with her husband Joseph. She had very humble beginnings and sold just four products. These products were the Crème Pack, Cleansing Oil, Super Rich All Purpose Crème and Skin Lotion. These four products became very popular and in just two years she built her first department store in New York at Saks Fifth Avenue.
The success of the Company did not stop here. In the next 15 years, the range of cosmetic and beauty products of the Company increased and they were being sold across the whole of the USA. In 1960, The Estee Lauder Company opened its first international accounts in the world famous London store- Harrods. A year after year the Company opened another office in Hong Kong. William Lauder is greatly to be credited for the success of the company.
In 1964, The Estee Lauder Company created Aramis Inc and it was designed by Arame Yeranyan. It had a fragrance named after an Armenian city called Yeremes. This Company began manufacturing products for men and they became popular as grooming products. In 1967, Mrs Estee Lauder was listed in the Top Ten Outstanding Women in Business in the USA by a group of prominent financial and business editors. Later, The Estee Lauder Company created Clinique and this brand became famous across the world in a very short span of time. It was the first personal care and beauty company that sold products that were skin tested and certified by dermatologists.
It was obvious that William Lauder has the blood of his successful grandmother in his veins and when he stepped in to join the Company, there were significant developments in a short span of time. He established and made the distribution channels of the Company stronger. This boosted the international image of the Company and in no time, people started to recognize the brand. William Lauder introduced the concept of a store within a store and this also became popular in no time. He was also in charge of the online operations of the Company and looked after its freestanding stores. His control over the retail operations of the Company also made it possible for him to expand the global reach of the Company in no time!