The Smell of Success: Lauder Starts Her Business
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After years of confining herself to her kitchen in an attempt to perfect her secret recipes, in 1947, Lauder was ready to take her creations public. With the founding of Estee Lauder Inc., she now had the vehicle she needed to begin her journey.
The company’s first big break came after just one year, when Saks Fifth Avenue agreed to sell their cream – only after much persistence on the part of Lauder. When the products sold out in just two days, both Lauder and the Saks manager knew they had hit upon something great. Her success at Saks had given Lauder the confidence she needed to imagine a greater vision for her company. Now, she felt like she had what it would take to compete with the giants – Revlon, Helena Rubinestein and Elizabeth Arden.
With a newfound ambition and belief in herself, Lauder set off on a sales mission across the U.S. She was determined to talk to the manager of every fine department store throughout the country. Because of Lauder’s willpower and convincing sales abilities, by the 1950s, Estee Lauder products were being featured in the likes of I. Magnin, Marshall Field’s, Nieman-Marcus and Bonwit Teller.
Despite its growing prominence, Lauder’s company had still not yet hit the big leagues and was relatively unnoticed by its larger competitors. After being rejected by numerous advertising agencies because of the company’s small size, Lauder decided to create her own promotions campaign. She began “giving away her company” through the likes of free samples in the mail and free gifts with the purchase of one of her products. Her strategy was successful and Lauder Inc. found itself quickly growing in customers.
In 1953, Lauder expanded her product line to include fragrances. With the introduction of the $8.50 per bottle Youth Dew, women were falling in love with Lauder’s luxurious but affordable line. It was primarily this Youth Dew that made Lauder’s company a multi-million dollar business, accounting for 80% of its total sales in just a few years.
The company continued to expand its operations with the introduction of a line of products for men, Aramis, as well as the first-ever line of allergy-tested cosmetics, Clinique. Lauder also began taking her company global and by the mid-1970s, had her products featured in department stores in over 70 countries. By the time the company went public in 1995, Lauder’s brainchild had become the third-largest cosmetics company in the U.S and just four years later, was responsible for 50% of all retail beauty products sold across the country.
“I never dreamed about success,” she said. “I worked for it.” The same year the company went public, Lauder herself retired. She died nine years later at the age of 96. Today, her son and grandchildren have taken the reigns of the company and are continuing to steer it towards success. Estee Lauder remains one of the largest and most recognized cosmetics brands in the world and a leading player in the global market for beauty products.
The Smell of Success Lauder Starts Her Business
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very nice..gt all the information i needed
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