Hong Kong
The Estée Lauder Companies to Recognize 75 Years in Business
Company Feature, Jan 29, 2021
The Estée Lauder Companies (ELC) and its heritage brand, Estée Lauder, are proud to announce plans for a company-wide recognition of its 75 years in business. Throughout 2021 the milestone will be lauded with numerous initiatives and events, including a special celebration on July 1 to honor Mrs. Estée Lauder’s birthday.
Since its founding in 1946 by Estée and Joseph Lauder, the company has grown into one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products, sold under more than 25 brands, with over $14 billion in sales, across 150 countries and territories.
The initial product offering consisted of four products developed by Mrs. Estée at her home in Queens, New York. The Lauder’s business was based on the simple premise that every woman can be beautiful. Armed with that philosophy, plus perseverance, creativity and passion, it changed the face of the beauty industry as it is known today.
Over seven decades, the Lauder family has remained a strong presence and a key differentiator for the business. Strong family values drive the company culture, fostering a caring, collaborative and compassionate workplace. “My grandmother, Mrs. Estée Lauder, was a visionary businesswoman who pushed the boundaries of possibility as a female entrepreneur in the 1940s. Her challenger spirit and courage to challenge and change are what inspire us today,” shared William Lauder, Executive Chairman.
In 1960, the company began its global expansion with its first accounts in the United Kingdom. By 1989, it had reached $1 billion in sales. In 1995, ELC went public on the New York Stock Exchange (NYSE). As of January 2021, the company was valued at over $80 billion in market capitalization. Today, ELC has remained successful by staying agile and transforming to respond to the new norms of change and disruption – all while staying true to its core values of respect for the individual and the planet, and a focus on high-quality products, creativity and innovation, and High-Touch services and experiences.
“Over the last 75 years, the success of our company has been deeply rooted not only in our business strategy, but in the execution of our core values. As we look toward the next 75 years and beyond, our responsibility is clear: to act on these values with even more intensity and intention, and to double down on protecting the health and wellness of our employees, our consumers and the communities in which we operate. With our values and our purpose continuing to guide us, our future will be bright,” said Fabrizio Freda, President and Chief Executive Officer.
To commemorate the anniversary, the company will roll out a number of exciting initiatives during the calendar year, celebrating the theme, “A Bold Legacy, Inspiring Our Future.” The campaign will reflect ELC’s longstanding commitment to product innovation, leadership development, citizenship and sustainability, and inclusion and diversity.
