Leonard Lauder Created the Beauty Industry as You Know It
The day before Father's Day, Leonard Lauder, the father of the beauty industry, passed away. Leonard, 92, was the eldest son of Estée Lauder, the woman who started the now multi-billion-dollar eponymous business from their family kitchen. Leonard went on to serve as the chairman and CEO of The Estée Lauder Companies for several decades. As Linda Wells, editor of Air Mail Look and founder of Allure, wrote on Instagram, the timing of his passing was 'fitting:' 'He was a father figure to so many of us in the biz, me included.' In his memoir, The Company I Keep: My Life in Beauty, he wrote, 'I remember sitting in the kitchen, watching my mother cook up facial creams on the stove.'
In carrying on his mother's legacy, Leonard became an early champion of women and took The Estée Lauder Companies to extraordinary heights. Standing at over 6 feet tall, 'Leonard was such a beautiful giant—literally and figuratively,' Gwen Flamberg, beauty director at Grazia, tells ELLE. When asked about his essential rules for business, Leonard said rule No. 1 was being accountable, but called this rule No. 2: 'Never make an important decision without a woman at the table. Growing up with a mother like Estée Lauder, how could I not respect and seek out smart, tough women? Strong women have made some of the best decisions for this company.' Jamie Rosen, a contributing editor to Town & Country and founder of the Substack Office of the Surface, recalls Leonard speaking at her undergraduate business school class at Emory and wowing the students: 'He was by far the most charismatic guest we had, but he also had a lot of concrete advice, much of it running counter to what I had assumed about running a successful business. It was less about being cutthroat and more about being clever. He emphasized surrounding yourself with people who are smarter than you, and [that included women].'
Leonard was an innovator, creating many 'firsts' for the beauty industry. The slanted shape of today's lipsticks was a spur-of-the-moment invention that he made after noticing that women would purse their lips during application. With a stroke of quick DIY brilliance, he took out a Gillette razor and slashed a lipstick at an angle. (Inventions even occurred to him while sleeping—he said that the idea for tinted lip gloss came to him in a dream). Leonard also coined the phrase 'the lipstick index,' an economic term referring to the recession-proof nature of cosmetics that he observed from the 2001 crisis, and created the company's first research and development laboratory.
His first wife, Evelyn, made the pink ribbon for breast cancer ubiquitous (she created it along with Alexandra Penney, an editor at SELF) and founded the Breast Cancer Research Fund. The Estée Lauder Companies made it a global mission to raise awareness for the disease, starting with distributing breast cancer research cards at counters across the nation. BCRF is now the largest private funder of breast cancer research, and deaths from the disease have declined by 44 percent since the charity was founded in 1993. 'When Evelyn and I sat at their kitchen table discussing a possible foundation to connect breast cancer laboratory and clinical research, Leonard overheard and said, 'I'm in!'' remembers BCRF founding scientific director Dr. Larry Norton. Leonard became an honorary chairman. 'A really beautiful memory I have is of the memorial service for Evelyn that the family hosted at the Koch Theater. The way he spoke of her! He recalled the story of how they met and he said, 'That was my girl... my Evelyn,'' Flamberg says.
When he joined the company at 25 in 1958, it had only one brand and below $1 million dollars in sales. Known as a collector, a personality trait he developed as a young boy who first collected postcards and posters, Leonard also collected companies. Now, The Estée Lauder Companies encompasses more than 20-plus brands sold in more than 150 markets. He developed brands in-house, such as Clinique, and also bought and grew companies like Jo Malone London and Bobbi Brown.
Leonard bought Brown's eponymous company in 1995, and their long relationship started with a phone call and a tour of his art. She tells ELLE: 'He told me we were beating him at the stores and that he'd like to buy us. I told him we were not for sale. Then, he invited me to dinner at his beautiful apartment on Central Park. He was so real and normal. He instantly made me feel comfortable.' Brown later showed him the boat she named after him called TYLL, which stands for 'Thank you, Leonard Lauder,' and he placed a photo of the catamaran on the mirror in his bedroom.
Leonard gave Brown business advice, including the old adage 'to ask for forgiveness and not permission.' She explains: 'He himself was a bit of a rule-breaker, and with that twinkle in his eye, he always encouraged me to follow my gut and do what I knew was best. He was the ultimate eye-roller and head-shaker when I called him to discuss roadblocks, and I know he had to walk a fine line and deal with both the creative and business sides. He was the most open, insightful, creative, and brilliant thinker, that cared as deeply about the formula and marketing as he did about sales. He was always as excited to hear about my innovations as he was about the bottom line. He never wanted to homogenize my brand and make it like everyone else's. He believed in the uniqueness and simplicity of who we were.'
Leonard also became so successful at distribution that he recently told Air Mail that a trick he used to fall asleep was to think of brick-and-mortar stores. 'Instead of counting sheep, I mentally check off all the specialty department stores we used to sell to, starting in Portland, Maine, with Porteous, Mitchell & Braun, and working my way down the East Coast, past R. H. Stern and Filene's in Boston, Gladding's in Providence, G. Fox in Hartford, and so on. I'm usually asleep before I get to New York.'
Leonard enjoyed collecting art as well, always with the intention of sharing his pieces with others. 'I collect to conserve and share what I'm assembling for present and future generations,' he told ArtNews. He also often hosted events at his house for the beauty industry. 'My most favorite memory of Leonard is when we were invited to his and Evelyn's home to see the famous Gustav Klimt painting 'The Lady in Gold,'' Flamberg remembers.
He donated 78 works of art to the Metropolitan Museum, now called the Leonard A. Lauder Cubist Collection, and became the Whitney Museum's single largest benefactor. The Whitney downtown has named a building after him. 'And by the time I'm dead, which I hope will be a long time from now, all my art will have been distributed to museums or my prints will have been distributed, posters posted, everything. They belong with the people not in my house, but in the house of the people which are museums,' he said in a 2020 talk at Brandeis University.
'I think he felt that he had a duty that came with his success—a duty to protect and to share—and his philanthropy was unmatched,' says Sarah Brown, former beauty director at Vogue and founder of Sarah Brown Advisory. 'The mark he and his family has had upon New York's cultural institutions and his support of the advancement of breast cancer research, especially, has undoubtedly changed, and saved, lives.'
Leonard was also known for his people-first mentality, and delighted telling people in more recent years that he was the company's Chief Teaching Officer. 'He believed that a company's wealth is its people and focused on mentoring and fostering growth within the company's diverse talent pool,' The Estée Lauder Companies said in a press release after his passing. He loved hand-written thank you notes, often composed on his signature robin's-egg blue stationery. Bobbi Brown still has all hers. 'I have saved every note I got on his blue stationery, and I also have a few postcards. Some were delivered in the mail, but most of them came hand-delivered in those manila folders that the couriers brought around. He was also the one who encouraged me to write post cards to hundreds of customers as I traveled the globe, meeting new people and coming up with new ideas.'
Writer Jamie Rosen remembers, 'He has been referred [to] as the 'master builder of beauty' and he certainly was, but I believe his legacy is about people. The people he believed in early in their careers (Bobbi Brown, for one!) and the way he made others feel—a part of something bigger than themselves.'
Brown agrees. 'Every time I saw him, I felt listened to and supported. We would often end the conversation with, 'I love you.' I know many people were touched by Leonard in the same ways and so many of us loved and admired him. But there was always enough of Leonard around for all of us.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time Business News
2 days ago
- Time Business News
Why Timing Still Shapes Every Rolex Story in 2025
Choosing when to purchase a Rolex is not a trivia question but a leverage point. The brand's share of Swiss watch turnover exceeded 32 % in 2024 and crept toward 33 % in Q1 2025, even while total industry volumes cooled by roughly 4 % (Morgan Stanley & LuxeConsult 2025 Report). That concentration means small shifts in supply or sentiment ripple quickly through price lists. In practical terms, the day you swipe your card can swing the final bill by a month's mortgage payment—something I learned firsthand in Lisbon this March when a dealer shaved €1 500 off a Submariner the moment quarter-end targets loomed. The goal of this guide is to make such moments predictable rather than lucky, combining hard numbers with life-cycle sense. For readers researching alternatives alongside authentic pieces, visit rolex-replicas to explore a curated catalogue. Retail schedules move with the precision of a chronometer. December's gift frenzy, February's Valentine surge, and the mid-June Father's Day spike all leave dealers over-stocked once the ribbons hit the trash. Smart collectors step in when showrooms echo. In 2024, average secondary-market ask prices for steel sports models fell 5.2 % in the first two weeks of January, then rebounded by early February (WatchCharts 2024). The same cadence repeated after Father's Day, suggesting a repeatable pattern rather than coincidence. Adding a simple 'two-week-after-gift-holiday' reminder to your phone can therefore function as a free discount voucher. Modern luxury chains manage to the quarter, not the calendar year. Sales managers risk bonus claw-backs if Q1, Q2, or Q3 ledgers miss plan, so they turn rigid MSRP into negotiable suggestions. Concentrate firepower on four cutoff dates: 31 March – First performance test; unsold Cellini and oyster-quartz references surface. 30 June – Mid-year inventory purge; gold-case dress models often see double-digit markdowns. 30 September – Last stock rotation before holiday allocations freeze. 31 December – Anything not nailed down is fair game. In September 2024, Daytona 116500LN premiums on a leading peer-to-peer platform narrowed from 23 % to 14 % inside 72 hours. Buyers who set alert filters captured the spread without leaving their sofa. Each April, Watches & Wonders detonates a news bomb. When Rolex introduced the titanium Yacht-Master 42 in 2024, trading prices for its white-gold predecessor dipped nearly 11 % within a month before climbing back once novelty faded. Similar dips are expected around the new 1908 complications teased for 2025. Strategy: pre-draft wish lists of discontinued or updated references, fund your escrow account, and pounce in the 30-day window after press day. Price data behave like tides—you can surf the swell or be dragged by it. Three tell-tales signal a market that is exhaling: listings older than 60 days, bid-ask spreads below 2 %, and forum chatter shifting from 'How high?' to 'Should I sell?' During the 2023-24 correction, Explorer II references lost roughly 18 % from January highs before leveling. Collectors who tracked those indicators on WatchCharts and Subdial Index timed entries at multi-year lows, converting patience into thousands saved. Since 2016, Rolex has lifted global list prices every January except pandemic-crippled 2020. The average bump from 2021-2025: 6.1 % on steel, 7.8 % on gold. Buying in December is therefore arithmetically smarter—yet timing is only half the game. Exchange-rate moves, rising material costs, and even U.S. tariff threats (see April 2025 31 % Switzerland import duty chatter) can trigger mid-year surcharges. Keep a watch on macro headlines: when gold breached US$2 400 /oz in January 2025, Rolex tacked an extra 3 % onto precious-metal SKUs weeks later. Economic turbulence shifts negotiating power to buyers. Secondary-market volumes jumped 12 % YoY during the 2023 tech-stock slump as owners liquidated discretionary assets. Deloitte's 2024 Pre-Owned Report shows that 47 % of sellers cited 'raise cash quickly' as the motive, up from 31 % in 2021. Cash-ready collectors exploited that stress, snagging GMT-Master 'Pepsi' pieces at single-digit premiums that would have seemed fantasy in 2022. A Rolex should never outrank your emergency fund. Simple rule: allocate no more than 5 % of net investable assets to a single discretionary watch. That ratio would have protected over-leveraged flippers who dumped hulking chronographs at 20 % losses during 2023's price retreat. Remember, opportunity cost compounds—€12 000 tied in a waitlist deposit is €12 000 not earning 4 % in a money-market fund. Yet when base finances are squared away, the same outlay becomes a luxury that pays dividends in daily enjoyment. Rolex itself markets the watch that 'marks a date.' There is logic beneath the slogan: emotional ROI smooths any modest overpayment. Popular trigger points include: Professional peaks – first partnership vote, Series A close Educational highs – PhD defense, language-fluency certification Family chapters – child's birth, silver anniversary Personal bests – ultra-marathon finish, charity funding goal I bought my Explorer II after completing the Camino de Santiago; every glance at the orange GMT hand recalls that 800-kilometre trek—far more valuable than the €800 price swing I could have saved waiting. High-demand references still command 'hurry-up-and-wait.' Average lead time for a ceramic-bezel Daytona at EU ADs stretched beyond 34 months in early 2025 (WatchPro audit). Building rapport—servicing a Datejust, ordering straps, and simply showing up—nudges your file to the top. Some collectors maintain a digital 'contact cadence' spreadsheet, noting every store visit and staff name. Overkill? Perhaps, but a dozen coffees can shave a year off a hot-model queue. The pre-owned segment is forecast to eclipse US$50 billion by 2030, and Rolex Certified Pre-Owned (CPO) outlets ballooned from 25 pilots in early 2024 to 107 doors by January 2025 before plateauing. This abundance improves transparency but also introduces spread: in April 2025, three-year-old Submariners ranged from –6 % to +18 % versus list, depending on provenance. Navigating that band requires structured data and a clear threshold of what 'fair' means for you. Secondary prices soften in tandem with macro wobbles, but they harden the moment equities rebound. Keeping an always-on price alert can reveal fleeting valleys. Example: during the NASDAQ pullback of May 2024, a yellow-gold Sky-Dweller slid 14 % below its six-month average; by July, gains in tech stocks had reversed 80 % of that drop. Acting in the trough demands confidence in your valuation homework. Market Backdrop Pre-Owned Edge Tactical Play Peak retail demand Zero wait time Accept moderate premium Price correction phase Value gap widens Accumulate core models Launch of new references Older models discounted Target discontinued SKUs Tariff / currency shock Sellers seek liquidity Negotiate all-in bundles A watch can be serviced; original papers cannot be re-issued. For vintage or limited references, box and papers can swing price by up to 25 %. Equally decisive is 'full-set originality' on items like bezels or dials. A 1999 A-serial 'Pepsi' GMT with tritium lume and no polish fetched 26 % above comparable pieces at a Geneva auction in November 2024. Ergo, when condition perfection aligns with your desired spec, jump—even if macro conditions feel lukewarm. The piece may not resurface for years. Many dream of catching the exact price bottom, yet spread-betting that point is statistically harder than timing an equity index. While you wait, annual Rolex hikes quietly widen the gap you hoped to close. Better hedge: define a 'value band' (say ±5 % of the six-month median) and commit when a target falls inside it. The mental freedom beats chasing unicorns. Paying February highs for a Submariner without checking waitlist length or currency shifts is like ignoring weather before sailing. In late 2022, offshore demand plus a weak euro pushed EU premiums sky-high; by March 2023, currency normalized and supply upticked, wiping 12 % off prices. Quick research could have flagged the hazard. Regularly cross-check AD wait times, WhatsApp group asking prices, and production rumours before wiring funds. The sweet spot to secure a Rolex forms where three vectors intersect: your financing comfort, observable market slack, and a watch that tugs at your narrative. Get two without the third and something feels off—either regret at overpaying or disappointment in a compromise model. Patience, data, and self-knowledge twine those vectors into a single, unmistakable signal to buy. When that moment arrives, trust your prep work, shake the dealer's hand, and start writing new memories with every tick of the seconds hand. What time of year usually offers the most inventory? January and early July often bring higher listings and more negotiable pricing as retailers unwind post-holiday stock. January and early July often bring higher listings and more negotiable pricing as retailers unwind post-holiday stock. Do Rolex prices ever really fall? Yes, especially in the pre-owned segment; popular sport models slid 10-15 percent during the 2023-24 correction before stabilising. Yes, especially in the pre-owned segment; popular sport models slid 10-15 percent during the 2023-24 correction before stabilising. Is waiting for a retail price increase announcement worth it? Buying before Rolex's typical January uplift can save 3-8 percent, assuming you're already financially prepared. Buying before Rolex's typical January uplift can save 3-8 percent, assuming you're already financially prepared. New vs. pre-owned—which is smarter in 2025? Pre-owned wins on immediate availability and diverse choice, but retail offers the full warranty and dealer relationship that may unlock future allocations. TIME BUSINESS NEWS
Yahoo
3 days ago
- Yahoo
Leonard Kaae Promoted to President of Black Construction Corporation
LOS ANGELES, June 17, 2025--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the "Company"), a leading civil, building and specialty construction company, announced today that Leonard Kaae has been recently promoted to President of Black Construction Corporation ("Black Construction"), the Company's Guam-based subsidiary. Mr. Kaae has worked for Black Construction for more than 40 years, most recently leading the firm's operations and its approximately 2,000 employees as Senior Vice President and General Manager. Under Mr. Kaae's leadership, Black Construction has grown to be the largest general contractor in Guam and the second-largest employer on the island (behind the U.S. federal government). Black Construction has consistently been one of Tutor Perini's most successful and profitable business units, with a record backlog and a large pipeline of bidding opportunities that are expected to increase over the next decade as the U.S. government prioritizes funding for the Pacific Deterrence Initiative and other strategic infrastructure investments in Guam and throughout the Indo-Pacific region. "Leonard exemplifies the type of high caliber leader that Tutor Perini is very fortunate to have leading our Indo-Pacific operations. He is a consummate professional and vital to the continued growth of our business in the region and globally," said Gary Smalley, CEO and President of Tutor Perini. "We congratulate Leonard on his well-deserved promotion." About Tutor Perini Corporation Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection. View source version on Contacts Tutor Perini CorporationJorge Casado, 818-362-8391Senior Vice President, Investor Relations and Corporate Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
3 days ago
- Business Wire
Leonard Kaae Promoted to President of Black Construction Corporation
LOS ANGELES--(BUSINESS WIRE)--Tutor Perini Corporation (NYSE: TPC) (the 'Company'), a leading civil, building and specialty construction company, announced today that Leonard Kaae has been recently promoted to President of Black Construction Corporation ('Black Construction'), the Company's Guam-based subsidiary. Mr. Kaae has worked for Black Construction for more than 40 years, most recently leading the firm's operations and its approximately 2,000 employees as Senior Vice President and General Manager. Under Mr. Kaae's leadership, Black Construction has grown to be the largest general contractor in Guam and the second-largest employer on the island (behind the U.S. federal government). Black Construction has consistently been one of Tutor Perini's most successful and profitable business units, with a record backlog and a large pipeline of bidding opportunities that are expected to increase over the next decade as the U.S. government prioritizes funding for the Pacific Deterrence Initiative and other strategic infrastructure investments in Guam and throughout the Indo-Pacific region. 'Leonard exemplifies the type of high caliber leader that Tutor Perini is very fortunate to have leading our Indo-Pacific operations. He is a consummate professional and vital to the continued growth of our business in the region and globally,' said Gary Smalley, CEO and President of Tutor Perini. 'We congratulate Leonard on his well-deserved promotion.' About Tutor Perini Corporation Tutor Perini Corporation is a leading civil, building and specialty construction company offering diversified general contracting and design-build services to private customers and public agencies throughout the world. We have provided construction services since 1894 and have established a strong reputation within our markets by executing large, complex projects on time and within budget while adhering to strict safety and quality control measures. We offer general contracting, pre-construction planning and comprehensive project management services, and have strong expertise in delivering design-bid-build, design-build, construction management, and public-private partnership (P3) projects. We often self-perform multiple project components, including earthwork, excavation, concrete forming and placement, steel erection, electrical, mechanical, plumbing, heating, ventilation and air conditioning (HVAC), and fire protection.
