Leonard Lauder, the influential businessman who played a crucial role in transforming Estée Lauder into one of the largest cosmetic companies globally, has died at the age of 92. His contributions to the brand, which include acquiring iconic lines like Clinique and MAC, have solidified his place as a transformative figure in the beauty industry.
Legacy of Leonard Lauder: The Man Who Transformed Estée Lauder into a Global Cosmetics Powerhouse
Legacy of Leonard Lauder: The Man Who Transformed Estée Lauder into a Global Cosmetics Powerhouse
Leonard Lauder, the visionary behind the global expansion of Estée Lauder, passes away at 92, leaving a remarkable legacy in the cosmetics industry.
Lauder's journey began when he joined his family's company in 1958, eventually taking the reins as chief executive for 17 years. Under his leadership, Estée Lauder blossomed from modest sales of under a million dollars to a worldwide powerhouse generating approximately $15.6 billion in revenue last year. He was respected as an icon and a pioneer; his energy and vision reshaped the company's trajectory permanently.
A statement from Estée Lauder confirmed his passing on Saturday, surrounded by family. Born in 1933, Lauder was the eldest son of Estée and Joseph Lauder and served as a lieutenant in the U.S. Navy before dedicating himself to the family business. He was instrumental in the firm's expansion into Europe and Asia and played a significant role in establishing its first research and development laboratory.
His legacy is evident in the robust global presence of Estée Lauder, which now operates in 150 countries. In 1995, Lauder took the company public, marking a significant milestone with its shares rising by 33% on the first trading day in New York. He continued to contribute to the business as chairman emeritus until his death in 2023.
Lauder's impact reverberated beyond the boardroom, as tributes have poured in from celebrities and business leaders alike. Elizabeth Hurley described him on Instagram as "my American Daddy," highlighting the personal bond they shared. Former New York mayor Mike Bloomberg expressed that “his legacy will be felt for generations,” while Steve Forbes noted that Lauder "lived life well."
In addition to his business acumen, Lauder was a passionate art collector, having pledged a billion-dollar collection of Cubist pieces to the Metropolitan Museum of Art in New York. He also made significant strides in supporting cancer research, serving as the honorary chairman of the board of directors at the Breast Cancer Research Foundation. Lauder’s multifaceted legacy will undoubtedly continue to influence future generations in both the cosmetics industry and philanthropic efforts.
A statement from Estée Lauder confirmed his passing on Saturday, surrounded by family. Born in 1933, Lauder was the eldest son of Estée and Joseph Lauder and served as a lieutenant in the U.S. Navy before dedicating himself to the family business. He was instrumental in the firm's expansion into Europe and Asia and played a significant role in establishing its first research and development laboratory.
His legacy is evident in the robust global presence of Estée Lauder, which now operates in 150 countries. In 1995, Lauder took the company public, marking a significant milestone with its shares rising by 33% on the first trading day in New York. He continued to contribute to the business as chairman emeritus until his death in 2023.
Lauder's impact reverberated beyond the boardroom, as tributes have poured in from celebrities and business leaders alike. Elizabeth Hurley described him on Instagram as "my American Daddy," highlighting the personal bond they shared. Former New York mayor Mike Bloomberg expressed that “his legacy will be felt for generations,” while Steve Forbes noted that Lauder "lived life well."
In addition to his business acumen, Lauder was a passionate art collector, having pledged a billion-dollar collection of Cubist pieces to the Metropolitan Museum of Art in New York. He also made significant strides in supporting cancer research, serving as the honorary chairman of the board of directors at the Breast Cancer Research Foundation. Lauder’s multifaceted legacy will undoubtedly continue to influence future generations in both the cosmetics industry and philanthropic efforts.
