(Credit-biography)
“No one ever became a success without taking chances… One must be able to recognize the moment and seize it without delay.”
Estee Lauder
She is the founder of one of the best cosmetics and luxury brands in the world. She proved that if we dared to dream and have the courage to do it could make anything possible. She started and managed the most iconic brand based on her name, Estee Lauder, Inc. Estee is one of the best role models who made a revolutionary change in the cosmetic industry. She was a great businesswoman who started her business with the motive of “Every woman can be beautiful.” She is an example of — “hard work and self-belief is the key to success.”
In this article, we will explore more about the story of an American businesswoman who played a crucial role in founding the fragrance and cosmetics company.
About Estee Lauder:
Estee was born in 1908 in Queens, New York. Her father had his hardware store where Estee had her first marketing lesson by selling and promoting high-quality products. She joined Newtown High School in Queens and graduated in 1927. During the outbreak of World War I, her uncle who was a skin specialist, came to stay with her family. She learned to make lotions and skin creams from her uncle due to which she started loving fashion and beauty products at an early age.
She helped her uncle to develop new natural products together. Later, Estee married Joseph Lauder, and her life changed. She has received many awards throughout her career, one of the important parts was being honored with the French Legion of Honor. She also supported various civic, cultural programs, and charity programs, which included contributions to restoring the Palace of Versailles and funding the construction of playgrounds in New York City’s Central Park.
Some famous quotes by Estee Lauder:
- “I never dreamed about success. I worked for it.”
- “Beauty is an attitude. There’s no secret. Why are all brides beautiful? Because on their wedding day, they care about how they look. There are no ugly women – only women who don’t care or don’t believe they’re attractive.”
- “When I thought I couldn`t go on, I forced myself to keep going. My success is based on persistence, not luck.”
- “I didn’t get there by wishing for it or hoping for it, but by working for it.” “My success is based on persistence, not luck.”
- “Never underestimate any woman’s desire for beauty.”
- “No one ever became a success without taking chances… One must be able to recognize the moment and seize it without delay.”
The Estee Lauder Inc.:
Estee and her husband Joseph established Estee Lauder Inc. in 1946 introducing six beauty products including skin treatments, rouge, and makeup base with a motive that every woman can be beautiful. A year later they got their first major order of $800 worth of products from Saks Fifth Avenue.
Estee was good at marketing as she learned it from her childhood by working with her dad. When she wanted to do the advertisement for her brand, many companies refused the deal because of their small budget of $50,000. Instead of putting money into advertising, she decided to spend $50,000 on producing sample products. These samples were distributed at various fashion shows and through mail. This strategy became successful when the company’s sales were about $850,000 in 1958. In the 1960s, the brand entered into the international market with its cosmetics and fragrances. By 1973, the company experienced remarkable growth by, hiring 1,000 people and achieving $100 million in sales.
In the 1960s, the brand expanded its reach globally, venturing into the international market with its cosmetics and fragrances. Estee Lauder Inc. started becoming popular and also began to launch many products and other brands like Aramis helped to gain popularity and one of the most successful cosmetics brands in the world.
Timeline of Estee Lauder Inc.:
Competitors:
- Christian Dior: The brand was established in 1946 by French fashion designer Christian Dior. The fashion house started becoming popular with its first collection of spring-summer in 1947. Today the brand sells luxury products for its targeted customers.
- Lakme: Lakme Cosmetics was established in 1952 by Mr JRD Tata in India to satisfy the needs of Indian women. Originated its name from the goddess, Lakshmi, known for her beauty, Lakme is the first Indian brand to launch its cosmetics in India
- Chanel: It was founded by Gabrielle Chanel in 1909 in France. It is a luxurious fashion brand that is known for its ready-to-wear clothing with other premium products such as watches, perfumes, handbags, etc. The brand is famous all over the world.
- Maybelline: It was established by Thomas Lyle Williams in 1915. Maybelline is a makeup brand that belongs to the French cosmetic company known as L’Oreal.
- Avon: Found in 1886, Avon is one of the most well-known and largest cosmetic companies in the world with an annual revenue of 9+ billion USD. Avon is one of the largest direct sellers in the world. It has served its valued customers across 100 different countries.
Marketing Strategy:
Understanding, attracting, and defining are crucial elements for an approach to studying consumers and marketing. The targeted audience of the brand consists of women from the ages of 25 to 50. The brand uses factors like gender, age, and income to target customers and focuses on professional women who value skincare alongside their interest in fashion. Estee Lauder offers a wide variety, including hair care, skin care, a different variety of fragrances, and makeup.
The price of their products is higher if compared to their competitors by aiming rich female customer base which also shows their commitment to the quality of their products. The company’s best marketing strategy is they provide a gift with the purchase which attracts more customers. Long before social media became popular, she depended on word-of-mouth campaigns and her mantra was simple: “Telephone, Telegraph, Tell a Woman.” She believed that satisfied women would spread the word about her products.
The market value of Estee Lauder:
As of January 2024, the market capitalization of the brand is around $48.24 billion, ranking 365th most valuable company globally based on market capitalization. 2022 was very lucky for the brand as the company achieved global net sales exceeding $17.7 billion.
FAQs:
1. Why is Estee Lauder so successful?
Ans: In 1953, Estee aimed to empower women to purchase their perfume. To achieve this, she developed Youth-Dew, a bath oil that served as a bathing product and a skin perfume.
2. Does Estee Lauder have a loyalty program?
Ans: The brand provides a loyalty program known as Estee E-List. Members can accumulate points, enjoy exclusive rewards, and access special promotions and events.
3. Do they offer international shipping?
Ans: The brand provides international shipping to specific countries. (For more details, please refer to their website – https://www.esteelauder.com/)
4. What is the benefit of Estee Lauder night serum?
Ans: It helps optimize the skin’s natural rhythm of repair and protection.
