Estee Lauder Historical Background

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  • Topic: Fortune 500, Estée Lauder Companies, Fortune
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  • Published : March 14, 2011
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ESTEE LAUDER

HISTORICAL BACKGROUND
Even those who aren’t experts in the field of cosmetics & fragrances recognize this most prominent and respected name. But the Company Estee Lauder, originally started by the fiercely ambitious ninth child in a Jewish immigrant family in Corona, Queens, New York, is today a household word to all whether or not they are involved in the field of cosmetics and fragrances.

Estee Lauder, born Josephine Ester Mentzer, is a somewhat mysterious figure in that little is known of her formative years. She and her husband Joseph founded the company with the couple’s formulation of their original products; Estee Lauder Creme Pack, Estée Lauder Cleansing Oil, and Estée Lauder All Purpose Creme and Skin Lotion. By the year 1948 they had established Saks Fifth Avenue in New York City as their first retail department store account. Five years after the rollout of their first products, the company produced a surprising new product with the development of Youth-Dew; a bath oil with a lingering quality fragrance versatile enough to double as a perfume. Although limited in funding during those early years, the Lauder’s sought to grow by innovation. Their early marketing techniques included sampling so that potential customers could actually try their products before buying. Despite her small ad budget, Estee Lauder sought only the most prestigious accounts. This established a precedent for Estee Lauder products which to this day are sold primarily in high end department stores, boutiques, and the most prominent and established e-Commerce discount cosmetics internet e-tailers.  By 1960 Estee Lauder was an international corporation selling their products in the famous Harrod’s Department Store in London. Within a few short years they opened outlets in Central America, Denmark, Hong Kong, Italy, Spain, Sweden, Belgium New Zealand and Switzerland. This was just a beginning. There is hardly a country on earth now that is not a market for...
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