In every industry, there are individuals who have taken their business organizations from scratch to extraordinary heights in their respective industry. These entrepreneurs start their businesses with a simple idea to exploit a shortage in the market. They have a vision of succeeding in their respective industries by taking advantage of this shortage in the market and turning it into a commercial opportunity. They succeed and the company progresses forward.
Bill Lauder is one such iconic entrepreneur who has been instrumental in the extraordinary growth and success of the Estee Lauder Corporation in the international cosmetic industry. He is the illustrious grandson of Mrs. Estee Lauder-the Founder of The Company. A distinguished entrepreneur in her own right, she established the Estee Lauder Corporation in 1946 with her husband Joseph. Like all entrepreneurs she noticed an acute shortage of quality skincare products that were safe on the skin in the cosmetic market at that time. With a vision of exploiting this acute shortage in the market, she entered this market with just four unique products. They were the Crème Pack, the Super-Rich All Purpose Crème, Skin Lotion and Cleansing Oil. However, the phenomenal success of these products led to the establishment of the company’s first department store in New York’s Saks Fifth Avenue within two years.
The Company saw success in the next few years. Its products were sold at Harrods-the famous departmental store in London. The first international office of the Company opened in Hong Kong. However, it was her grandson, Bill Lauder, who was responsible for the company’s prominence in the international market. Since he began his association with the company in 1986, he played a pivotal role in strengthening, expanding and diversifying the distribution channels of the company.
As Regional Marketing Director of Clinique -an important brand of the Company, he implemented a number of innovative marketing strategies. These were instrumental in making many of the company’s brand products international best sellers. It was under his tenure, another brand Origins became an international success. He was the mastermind behind the concept of a store with a store. This innovative marketing strategy won the appreciation of both customers and critics in the industry.
Bill Lauder’s entrepreneurial skills and business acumen played a vital role in the phenomenal success of the Estee Lauder Corporation in the cosmetic industry. His marketing innovative strategies was reason the behind the success of The Estee Lauder Company today!