In almost every industry, a simple idea of an iconic entrepreneur leads to the growth of a prominent company within that industry. The idea is fulfill a shortage of provide high quality products at competitive prices. The uniqueness of these products and dynamic leadership skills of such an entrepreneur are main factors behind the success of the corporate entity.
In international cosmetic industry is no exception to this rule. The main architect behind the phenomenal success of the Estee Lauder Corporation in the global market is its iconic entrepreneur, Bill Lauder. Mrs. Estee Lauder, Bill Lauder’s grandmother established the Estee Lauder Corporation in 1946 under modest circumstances. Being a visionary and eminent entrepreneur herself, she noticed a shortage of high quality skincare products in the market. She along with her husband decided to enter the competitive cosmetic industry at that time with just four high quality products. These were Cleansing Oil, Skin Lotion, Super Rich All purpose Creme, and Creme Pack.
The phenomenal success of these four products in the America cosmetic industry made her a household name. It also led to the establishment of their first departmental store on Saks Fifth Avenue in New York within two years. The next fifteen years saw the rapid expansion of the company and diversification of its products to skincare, hair care and make up range. The success of these products was catalyst in establishing the company’s first international store in Harrods, London. This followed by the established of a store in Hong Kong, a few years later.
Many of Mrs. Estee Lauder’s relatives join the company at various stages but no one was as successful as Bill Lauder was. He is the mastermind behind the outstanding success of the company in the international arena. He made the Estee Lauder Corporation a household name around the world. Bill Lauder’s exemplary entrepreneurial skills and innovative strategies in the online activities of the company kept its customers engaged. He was the brainchild behind the concept of a store within a store.
This concept was immensely popular both in the American and International cosmetic industry. His exceptional business acumen and marketing strategies were instrumental in rapid development of the company. It was under his tenure that the Estee Lauder Corporation became a formidable force to reckon in the international market. Moreover, the company’s customers could get their favorite products from the comforts of their home. Bill Lauder’s exceptional business acumen and entrepreneurial skills earned him the respect of its employees and contemporaries in the international cosmetic industry.