The Estee Lauder brand is familiar to almost everyone, everywhere. How did that happen? The credit goes to Estee Lauder, who built a cosmetics empire, a person who had a passion for and desire to help women feel glamorous. Even those who aren’t experts in the field of cosmetics and fragrances recognize this most prominent and respected name. Estee Lauder, born Josephine Ester Mentzer, was one the most successful women entrepreneurs in America and she was the only one woman on Time Magazine’s 1998 list of the 20 most influential business geniuses of the time.
She built her cosmetics empire by having every woman’s dream in her heart, which was providing woman with resources to look and feel beautiful. Estee Lauder was born on July 01, 1908 in Corona, Queens, New York. She was indeed European, where her parents, Max Mentzer and Rose (Schotz) Mentzer, were Jewish immigrants from Hungary and Czechoslovakia. She was the youngest in the family with eight other siblings. They were far from high society, her father’s owned a hardware store and there was where they spent most of their time.
While was working in his father’s hardware store, it did give her a better understanding and bigger picture of entrepreneurship and what challenges she might meets to be a successful retailer. In her autobiography, as a teenager, Estee had a dream; she dreamed to be a skin specialist and making women beautiful. She loved to study all the products that launched in the market, and worked on faces and hair by having their family members as her models. In her life of cosmetic field, the first and the most important mentor was her uncle, John, who was a passionate chemist.
The Essay on Estee Lauder Cosmetics Customers High
Porters Five-Forces Model: A. Risk of Entry by Potential Competitors; The cosmetics industry possesses rather high entrance barriers for the competition. The fact that the cosmetics are used on humans and therefore in the worst case can damage human health, makes the regulatory agencies very demanding of the new entrants in terms of product testing, safety and usefulness. The Advertisements aimed ...
Estee learned many important details and gained experiences through her uncle by helping him in his work. She experimented and tested the creams made by her uncle on the faces of her family members and classmates. She even promoted her uncle products to salons and resorts throughout the city. One thing that taught by her uncle that impressed Estee Lauder was that instead of using soap and water, but to use oils to clean and moisten her skin. Estee Lauder married at the age of twenty-two and subsequently separated and remarried to a textile salesman Joseph Lauder. The couple opened their first store in New York City in 1944.
Then, after she gave birth to their second son, she and her husband Joseph Lauder founded Estee Lauder Inc. in 1946. During the 40’s, she persuaded many bosses of upscale department stores in New York City to give her counter space, and her first target was Saks Fifth Avenue. After winning a counter in Saks Fifth Avenue, she traveled the entire country from one department store to another in an effort to get her products across. That was not the end, but was just the beginning, day to day she was standing behind the cosmetics counters, introducing her products and giving free facials as well as training salesperson.
Estee Lauder introduced a brilliant idea by giving gifts to her customers with purchase of her products. This give-with-purchase technique was started by her and now is widely used by many cosmetics companies. In 1953, Estee launched her Youth-Dew Body Oil, which turned out into a billion-dollar-a-year business. By the mid-1970’s, Estee Lauder Inc. had grown so large and so popular that consumers could find its product across 70 over countries. The company continued to prosper throughout the 1980s and 90s, and becoming the third- largest company in America.
Due to her ambition and dedication, by 1999, Estee Lauder products accounted for nearly 50 percent of all retail beauty products sold in America. On April 26, 2004, she dies of cardiopulmonary failure. At the age of 96, Lauder’s life may have been over, but her significance in the beauty industry the world was not over. She left behind her empire and Estee Lauder products become one of the most recognized brands in more than 120 countries. Today, Estee Lauder Inc. has become one of the most successful cosmetics company in the world.
The Business plan on Estee Lauder Company Strategic Analysis
... care, make-up, and hair care products. (Hoovers, 2013) The company offers products under renowned brands including Estee Lauder, Aramis, Clinique, Origins, MzAzC, Bobbi Brown, La ... education programs for beauty advisers, a must have in this business. Estee Lauder did well over the next fifteen years, and in 1960 ...
It surrounds a significant number of recognizable companies including Estee Laude, Aramis, Clinique, M·A·C, Tommy Hilfiger, Donna Karan, Origins, Bobbi Brown, La Mer, Michael Kors, Aveda, Jo Malone, Coach, Ermenegildo Zegna Bumble and bumble and Tom Ford, just to name a few. Estee Lauder Companies went public in 1995 and today it is run successfully by her children and grandchildren who are active and involved in the blooming house of beauty that her mother or grandmother carefully built over many decades. Challenges In the early 70s, Estee Lauder launched Clinique, which turned to be one of the big challenges to her business.
The line Clinique was created for the younger women. Clinique cosmetics are somewhat different than other cosmetic companies; it aims to meet individual skin care needs. In the first two years of Clinique, resulted in totaled losses of 3 million dollars. However, Estee refused to give up. She appointed Carol Phillips, the former editor of Vogue to run the division of Clinique. Thereafter, the product line never stopped growing. What makes her successful? I have been studying the profiles and biographies of Estee Lauder and I found that she actually started her businesses from scratch and built multi billion dollar empires.
What characteristics she possesses that made her a successful entrepreneur and popular? What’s the secret to her business success? What characteristics helped Estee Lauder become billionaires? The first and probably the most important characteristics possessed by Estee Lauder is persistence. Staring a business is one thing; but sticking to the entrepreneurial process is another. If ever there was a relentless entrepreneur who refused to give up even in the face of tremendous doubt and uncertainty, Lauder was it.
She was stubborn since young, Estee was a woman who refused to quit and walk away when the road was tough and when everyone else said give up. It is that little spirit that compelled her to continue when she was at the most tired. There is this saying by Estee Lauder, “When I thought I couldn’t go on, I forced myself to keep going. My success is based on persistence, not luck. ” According to her, there is not a day that she worked without selling. If she believes in something, she sells it and she sells it hard. She believed in her products and what they would do for women.
The Business plan on Marketing Plan For Hypothetical Product-Based Company
Executive Summary This report contains a marketing plan for a new and affordable repair shop in the San Antonio market. The new shop will be launched in the market and will tend to all types of customer’s needs, such as; tune-ups, engine diagnostic (free), oil change, engine cleaning, will be an exclusive high end smart watch. The gold and platinum watch with marble dial will be launched. The use ...
Therefore, she was not afraid to take unusual yet creative steps to make a sale. Those who know her have described Estee Lauder as a woman that don’t take “no” for an answer and famous for her often use of guerilla tactics to close a deal. When she wants something, she would try all means to get it. In one such case, she used one such tactic to break the prestigious Galleries Lafayette account in Paris. During that time, Galleries Lafayette was Europe’s largest department store, with its excellent locations and wipe scope of its stores.
Besides that, Lafayette was a upscale department store which sold high-end products and fashion clothing, which suited the image that Lauder was trying to create for her company. She used all her charm and sales abilities to try and convince the head manager of the Paris store on how perfectly her line of beauty products. Despite all her hard work, the manager refused to stock her products and sent her off. Just a couple of minutes after, Estee Lauder noticed a demonstration taking place on the store floor and quickly there she came out of an idea to catch peoples’ attention.
As she made her way to the middle of the crowd, she “accidentally” spilled her Youth Dew on the floor. Youth Dew is a bath oil that has a scent that doubled as a perfume, wafted through the crowd, and it aroused the interest of customers. Through that, everyone started wanting to know about that fragrance and asking where they could actually purchase the product to give it a try. Looking at that, the manager had no choice but to give in to Lauder’s initial order. With her persistence, Estee Lauder became such amazing businesswoman that inspired everyone and brought her company to the top.
