Estee Lauder

Topics: Strategic management, New product development, Estée Lauder Companies Pages: 32 (9725 words) Published: April 21, 2013
Estee Lauder Study Case
Estee Lauder
Prepared by:
Alhamdulillah, first of all we would like to thank ALLAH S.W.T as finally we were able to finish our assignments that have been given by lecturer to us. This task had been done with all afford by group members even though a little bit problem were happened among us while doing this assignment. Luckily all the problems can be settled down and we were able to adapt properly and wisely. Besides that, big thank we address to our supervisor or our lovely lecturer for MGT 657/MGT 658 Mrs. Shaherah Binti Abdul Malik because without his guide our project cannot be done properly like this. He always give us supports and guide to us how to do our assignment in purpose to produce a good outcome from research that been studied. We already analysis and discussing about the Estee Lauder Company. Last but not least, we would like to dedicate a thousand of thank you to anyone that participates directly or indirectly in our assignment to complete this report. Without their commitment and support, this report would not complete successfully.

Content of Case Study Analysis:
1. Case Summary/Background
Estée Lauder Company was found by Estée Lauder herself alongside with her husband, Joseph Lauder in the year 1946 which manufactures and markets four cosmetic product lines namely skin care, make up, fragrances and as well as hair care products. These products are sold over 150 countries worldwide under brand names that include Estée Lauder Clinique, Origins, MAC, Bobbi Brown, Aveda and even Lab Series just to name a few. Not only that, it also has global licenses for fragrances and cosmetics under the brand name of Tommy Hilfiger, Donna Karan (DKNY), Michael Kors as well as Donald Trump. In the early years of Estée Lauders’ entrepreneurship, she faces a rejection from Madison Avenue to accept and carry her product. But that does not stop her from continuing selling her products directly to customers where she targets high-class customers exclusively through boutiques and department stores and one of the first department store to sell her products was with Saks Fifth Avenue in New York. Until today, Estée Lauder Companies has 26 brands, selling over to 150 countries and employs over 22,000 people worldwide. By the year 2004, Estée Lauder Companies lost a very important person and that is Mrs. Estée Lauder herself due to cardiac arrest. Although it was a great loss for the company, Mrs. Estée Lauder witnessed her empire grow from a small hometown operation into a worldwide corporation. She was proud that her company went public in 1995 and now, it is led by her Estée and Josephs’ children and grandchildren. As of 2010 Estée Lauder sells its products in department stores across the world and has a chain of freestanding retail outlets. On July 1, 2010, the company acquired Smashbox Beauty Cosmetics,Inc., a brand created in Smashbox Studios in Culver City, California by brothers Dean and Davis Factor(as in Max). On October 28, 2011, Aramis and Designer Fragrances, a division of The Estée Lauder Companies Inc., and Tory Burch LLC announced the signing of a multi-year agreement for the exclusive worldwide license of the Tory Burch fragrance business. This partnership marks Tory Burch's first step into the beauty industry. The first Tory Burch fragrance products are expected to be introduced in 2013 In this case study, first off we evaluate the mission statement of Estée Lauder companies where all 9 elements is to be discovered namely customers, products or services, markets, technology, concern for survival, growth and profitability, philosophy, self-concept, concern for public image and concern for employees. These 9 basic components serve as a practical framework for evaluating and writing mission statements. Mission statement is the first step to provide direction and all the planning activities in an organization....
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