Son of Estee Lauder, Leonard Lauder, who spearheaded the expansion of the cosmetics giant into a global empire, passes away.
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Iconic Cosmetics Tycoon Leonard Lauder Passes Away at 92
The "father" of Estée Lauder Companies, Leonard Lauder, a man who transformed cosmetics into a global powerhouse, has passed away at the age of 92.
After a stint in the U.S Navy, Leonard joined his parents' business in 1958, climbing the ranks to become the president and CEO. The company released a statement, "For more than six decades, Mr. Lauder was a visionary and an innovator, helping transform the business."
Leonard played a significant role in the shift of Estée Lauder from selling a limited number of products in US stores to owning a plethora of brands internationally. Apart from launching iconic brands like Clinique and Aramis, he was known to be a sharp dealmaker, involved in purchasing notable brands like Bobbi Brown and Jo Malone London.
His son, William Lauder, shared his father's joyful work, stating, "Throughout his life, my father worked tirelessly to build and transform the beauty industry, pioneering many of the innovations, trends, and best practices that are foundational to the industry today."
Born in 1933, in New York City, Leonard was a multibillionaire, with his net worth peaking at an estimated $25.5bn in 2021. He had served as Estée Lauder's Chief Executive Officer from 1982 to 1999 and Chairman from 1995 to 2009.
Stephane de la Faverie, the brand's current CEO, mourned Leonard's demise, expressing, "Leonard Lauder was beloved by many and will be missed tremendously. To our employees at The Estée Lauder Companies, he was an inspiration and a champion. To the industry, he was an icon and pioneer, earning respect worldwide."
Leonard was married to Evelyn, a fellow executive who founded the Breast Cancer Research Foundation, from 1959 until her passing in 2011. He is survived by his second wife, Judy, a renowned photographer, along with his two sons, five grandchildren, and two great-grandchildren.
Leonard was known to consider himself twice as lucky in love. His statement following his second marriage read, "Mr. Lauder considered himself lucky in love and believed that lightning really could strike twice."
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Sources:- Este Lauder's Son, Leonard Lauder, Dies at 92- A Short yet Remarkable Life of Leonard A. Lauder: From Navy to Cosmetics Tycoon- Leonard Lauder: The Entrepreneur Who Built an Empire
Leonard Lauder's significant contributions to the fashion-and-beauty industry, along with his business acumen, also had a notable impact on the finance sector, with his substantial net worth and strategic acquisitions.
In addition to his impact on the lifestyle sector through cosmetics, Leonard Lauder's endeavors extended to the business world, demonstrating his versatility as an entrepreneur.
