Estée Lauder: What’s next after Leornado Lauder’s passing

By Temo Mpodi

Building a powerful multi-billion-dollar beauty company requires a formidable spirit, a strong focus on innovation, a strong foundation, and a commitment to ethical practices that not only benefits the company, but employees as well. When Leonardo Lauder stepped in with his brother, Ronaldo Lauder to lead the beauty empire that is Estée Lauder, he took the company from making less than $1 million to the global giant it is today operating in over 150 countries and worth more than $156 billion in sales last year.

As CEO of the company from 1982 until 1999, Leonardo led the company to significant growth and innovation. According to elcompanies.com (The Estee Lauder Companies), he established the company’s first research and development lab, brought in professional management, and drove international expansion, significantly increasing sales and profits. He developed and implemented groundbreaking sales and marketing strategies that in the end revolutionised not only Estée Lauder but the beauty industry as a whole.

Earlier this year his brother Ronald Lauder stepped away from the board (though he remains chairman of Clinique Laboraties, and named his daughter, Jane Lauder and son-in-law Eric Zinterhofer (husband to his daughter Aerin Lauder) to serve on the board.

So what’s next for The Estee Lauder Companies?

Business Reporter for The Estee Lauder Companies mentioned the below:

1. Focus on the growth of the company, and really be where the consumer is, like TikTok shop
2. Cut dependency on the Chinese Market
3. Get their products sales stronger in North America and the American market at large.
4. The original family no longer makes decisions (Ronald Lauder)
5. Fixate the restructuring plan