Latest news with #EsteeLauder
Business Times
2 days ago
- Business
- Business Times
Succession at Estee Lauder
THE passing of Leonard Lauder last week (June 14) at age 92 marks more than the end of a personal chapter – it closes an era for one of the most iconic family-run businesses in global beauty. As someone who spent years in the media industry, where beauty advertisers often account for up to 40 per cent of total revenue, I've long held a deep affinity for cosmetic brands – especially Estee Lauder – shaped by both professional experience and personal encounters. In the early part of my career, I was based in Tokyo, as part of the global leadership ad sales team at Elle magazine. One of the defining memories of that chapter was travelling to New York to present a global partnership programme to the Estee Lauder global leadership team. I was representing Asia, and while I didn't get to meet Leonard Lauder himself, his vision was present in every conversation – the precision, the pride, the promise of timeless beauty. That season also gave me the privilege of meeting and engaging with some of the most influential figures in the beauty industry – founders and next-generation chairmen and chief executive officers whose names are synonymous with luxury and excellence. I met Hiroshi Uemura of the Shu Uemura family, Yoshiharu Fukuhara of the Shiseido family, and Christian Courtin of the Clarins family. I've always been deeply interested in family entrepreneurship. These weren't just professional encounters – they were windows into the soul of family-owned empires, each grappling with legacy, innovation and succession in their own way. My connection to Estee Lauder deepened at home. My wife worked under the Aramis brand, part of the Estee Lauder Companies, and I became an Aramis user myself. I could even recognise the distinct scent of White Linen when someone wore it – a reminder of a household legendary brand. One of my most defining career moments came later, during my tenure as president of Mindshare China, when we won the largest advertising pitch in China's history – the L'Oreal China account, valued at US$2.5 billion. We mobilised over 90 professionals across cities to present a unified brand strategy for L'Oreal Paris, Lancome, Maybelline, and Kerastase. It was a powerful lesson in alignment and storytelling at scale – and deepened my appreciation for how global beauty brands, especially family-founded ones, balance legacy and innovation. Now, as a family legacy planner, I find myself drawn to examining how the Estee Lauder family navigated succession – not just as a business case, but as a generational journey of values, vision, conflict management, and continuity. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up A succession strategy worth studying What makes Estee Lauder's journey particularly remarkable – and relevant to those of us in the world of family enterprises – is how it has navigated succession across three generations, blending professionalism with preservation. Estee Lauder, the founder, built not just a beauty brand but a household name. Her son, Leonard Lauder, scaled the business globally, acquiring key brands and turning the company into a public powerhouse. His son William took over as CEO in 2004 and later transitioned to chairman. Meanwhile, Jane Lauder, a third-generation leader, held key roles in digital transformation and brand management, and was widely seen as a potential successor – until internal dynamics made the path less clear. In recent years, there were signs of internal disagreement within the family leadership. Public reports alluded to differences in views between Jane Lauder and her cousin William regarding the company's direction. It marked a typical instance of visible tension within a business family long regarded for its cohesion. Rather than allow the business to be entangled in internal politics, the Lauder family made a bold but measured move: they appointed Stephane de La Faverie, a seasoned executive, as the company's first non-family CEO. Jane stepped down from operational duties but retained a board seat. William moved fully into a strategic governance role. This was not a retreat. It was a recalibration – a shift from operational control to strategic stewardship. Control through structure Even with only about 35 per cent equity ownership, the Lauder family retains 86 per cent of voting power through a dual-class share structure – giving them enduring influence over the direction of the company. This structure – often misunderstood – has allowed the family to: Maintain long-term vision and brand values Avoid short-termism from outside investors And, when necessary, make difficult but decisive leadership changes While Estee Lauder Companies faced recent headwinds – notably from slowed growth in China – the leadership transition and ongoing restructuring have been positively received by the market. It's a reminder that well-governed family firms can both adapt and endure. Lessons I learned The Estee Lauder story is a living example of how legacy businesses can evolve: 1. Structure is power: With thoughtful planning, families can retain control without needing majority ownership. 2. Letting go is leadership: Knowing when to step back – and how – is often the hardest but most strategic move. 3. Governance evolves: From founder-led to professionally managed, the company's journey shows that values can outlive titles. 4. Conflict happens; resolution must be designed: The family's maturity in managing differences while preserving unity is a lesson for every business family. 5. Brand is legacy: What Estee built was not just a business, but a belief – the promise that every woman can be beautiful. I agree. Final thought: AI as the next legacy frontier As someone who has had the privilege of working with and learning from some of the world's most iconic beauty brands – and who now advises families navigating succession and legacy – I find the Lauder story both personal and inspiring. It reminds us that while brands can be bought, legacies must be built – and guarded. Now, a new frontier demands equal attention: artificial intelligence. In June 2025, L'Oreal announced a strategic partnership with Nvidia, leveraging advanced AI tools to personalise customer experiences, power virtual beauty consultations, and drive data-driven content creation across its multi-brand portfolio. As legacy beauty brands transition to professional management, they must also embrace technological transformation. The Estee Lauder legacy story continues. The writer is a family enterprise adviser and educator
Yahoo
3 days ago
- Business
- Yahoo
Estee Lauder (EL), Consumer Stocks Jump 10.8%
The Estée Lauder Companies Inc. (NYSE:EL) is one of the . Estee Lauder jumped by 10.82 percent on Monday to finish at $74.59 apiece, tracking a generally optimistic market environment following the United States' trade deal progress with two of its trading partners. The Estée Lauder Companies Inc. (NYSE:EL) rallied in line with the recovery of consumer stocks, one of the sectors most sensitive to shifts in the global trade environment. In other news, The Estée Lauder Companies Inc. (NYSE:EL) announced the passing of its chairman emeritus, Leonard A. Lauder, at age 92. A close-up of a makeup artist carefully applying Makeup Products to an clients face. Leonard is the son of the company's founders, Estee and Joseph. He finished studies at the Columbia University's Graduate School of Business and served as lieutenant in the US Navy and as a Navy reservist. He formally joined Estée Lauder in 1958, became its president from 1972 to 1995 and as CEO from 1982 to 1999. He was named chairman in 1995 and served in that role through June 2009. While we acknowledge the potential of EL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
3 days ago
- Business
- Yahoo
Estee Lauder (EL), Consumer Stocks Jump 10.8%
The Estée Lauder Companies Inc. (NYSE:EL) is one of the . Estee Lauder jumped by 10.82 percent on Monday to finish at $74.59 apiece, tracking a generally optimistic market environment following the United States' trade deal progress with two of its trading partners. The Estée Lauder Companies Inc. (NYSE:EL) rallied in line with the recovery of consumer stocks, one of the sectors most sensitive to shifts in the global trade environment. In other news, The Estée Lauder Companies Inc. (NYSE:EL) announced the passing of its chairman emeritus, Leonard A. Lauder, at age 92. A close-up of a makeup artist carefully applying Makeup Products to an clients face. Leonard is the son of the company's founders, Estee and Joseph. He finished studies at the Columbia University's Graduate School of Business and served as lieutenant in the US Navy and as a Navy reservist. He formally joined Estée Lauder in 1958, became its president from 1972 to 1995 and as CEO from 1982 to 1999. He was named chairman in 1995 and served in that role through June 2009. While we acknowledge the potential of EL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Business Recorder
4 days ago
- Entertainment
- Business Recorder
Matthew Perry death: Doctor to plead guilty to supplying ketamine to ‘Friends' star
A California doctor charged in the overdose death of 'Friends' star Matthew Perry has agreed to plead guilty to four counts of illegal distribution of the drug ketamine, according to a court filing on Monday. Salvador Plasencia, who operated an urgent care clinic in Malibu, faces up to 40 years in prison, according to a statement from prosecutors. He is expected to enter the guilty plea in the coming weeks. Plasencia was one of five people charged in the death of Perry at age 54. An autopsy found the actor died from acute effects of ketamine and other factors that caused him to lose consciousness and drown in his hot tub in October 2023. Ketamine is a short-acting anesthetic with hallucinogenic properties. It is sometimes prescribed to treat depression and anxiety but also abused by recreational users. In the plea agreement, Plasencia admitted to injecting Perry with ketamine at the actor's home and in a Santa Monica parking lot in the weeks before his death, in exchange for thousands of dollars, and that it was 'not for legitimate medical purposes.' Plasencia obtained the ketamine from another doctor, Mark Chavez of San Diego. According to earlier court filings, Plasencia texted Chavez about Perry, saying 'I wonder how much this moron will pay.' Estee Lauder Chairman Emeritus Leonard Lauder dies at 92 Chavez and two other defendants already have pleaded guilty in the case. None has yet been sentenced. A fifth defendant, Jasveen Sangha, whom authorities said was a drug dealer known to customers as the 'ketamine queen,' has been charged with supplying the dose that killed Perry. She has pleaded not guilty and is scheduled to go on trial in August. Perry had publicly acknowledged decades of substance abuse, including during the years he starred as Chandler Bing on the hit 1990s television sitcom 'Friends.'
4 days ago
- Business
Leonard Lauder, who globalized family cosmetic business, dies at age 92
NEW YORK -- Leonard Lauder, a renowned philanthropist who expanded the family cosmetics business into a worldwide empire, has died at the age of 92. Estee Lauders Cos. announced the news in a release on Sunday and said he died on Saturday surrounded by family. Lauder, the oldest son of Estee and Joseph H. Lauder, who founded the company in 1946, formally joined the New York business in 1958. Over more than six decades, Lauder played a key role in transforming the business from a handful of products sold under a single brand in U.S. stores to a multi-brand global giant. He had held the title of chairman emeritus at the time of his death. Estee Lauder's products are sold in roughly 150 countries and territories under brand names including Clinique and Aveda, according to the company's latest annual report. The company generated sales of nearly $16 billion in the fiscal year ended June 30, 2024, the filing said. Estee Lauder went public in 1995, but members of Lauder family still have about 84% of the voting power of common stock, according to the latest annual filing. Lauder served as president of The Estée Lauder Cos. from 1972 to 1995 and as CEO from 1982 through 1999. He was named chairman in 1995 and served in that role through June 2009. Under his stewardship, Lauder created the company's first research and development laboratory, brought in professional management at every level, and was the impetus behind The Estée Lauder Cos.' international expansion, helping to spearhead the company's sales and profits exponentially, according to the company. Lauder led the launch of many brands including Aramis, Clinique, and Lab Series, among others. Until his death, he remained deeply involved in the company's acquisition strategy, including the acquisitions of such brands as Aveda, Bobbi Brown, Jo Malone London and MAC, the company said. During his years as chairman emeritus, Lauder was closely involved in the business and day-to-day operations and was a constant fixture at its global headquarters in New York and at its stores around the world until the time of his death, the company said. 'Throughout his life, my father worked tirelessly to build and transform the beauty industry, pioneering many of the innovations, trends, and best practices that are foundational to the industry today,' said William P. Lauder, son and chair of the board at The Estée Lauder Companies in a statement. 'He was the most charitable man I have ever known, believing that art and education belonged to everyone, and championing the fight against diseases such as Alzheimer's and breast cancer. ' Lauder was a longtime patron of the Metropolitan Museum of Art and, in 2013, pledged his 78-piece collection of Cubist art to the museum in the largest single philanthropic gift in the museum's history. He later added five major works to that pledged gift, the company said. In concert with his Cubist collection donation, he helped establish the Leonard A. Lauder Research Center for Modern Art at the Met to support a program of fellowships, focused exhibitions, and public lectures. He also was the Whitney Museum of American Art's chairman emeritus and a trustee from 1977 to 2011. Lauder was married to Evelyn H. Lauder, who had been the senior corporate vice president at the cosmetic company and the founder of the Breast Cancer Research Foundation, from 1959 until she passed away in 2011. On Jan. 1, 2015, Lauder married Judy Glickman Lauder, a philanthropist and internationally recognized photographer. Lauder was born in 1933 in New York City. He was a graduate of the Bronx High School of Science, the University of Pennsylvania's Wharton School, and the Officer Candidate School of the United States Navy. Lauder studied at Columbia University's graduate school of business. He served as a lieutenant in the U.S. Navy and as a Navy reservist, for which the U.S. Navy Supply Corps Foundation later recognized him with its Distinguished Alumni Award. In addition to his wife and son William, Lauder is survived by his other son Gary M. Lauder and wife, Laura Lauder; five grandchildren, two great-grandchildren, many stepchildren and step grandchildren, as well as his brother, Ronald S. Lauder, and wife, Jo Carole Lauder, and their daughters, Aerin Lauder and Jane Lauder.
