For many Australians, the Estée Lauder name conjures up memories of elegant bottles on mum’s dresser, or perhaps a cherished lipstick tucked away in a handbag.
The legendary business mind behind the Estée Lauder Companies has passed away at the age of 92, leaving behind a legacy that stretches far beyond the world of beauty counters and department store perfume spritzers.
But theirs is one of family, innovation, and a generosity that touched millions.
From humble beginnings to global glamour
Born in New York City to Estée and Joseph Lauder, Leonard Lauder’s early years were a far cry from the glitz and glamour we associate with the brand today.
As a boy, he would tag along with his mother on sales calls to beauty salons, learning the ropes of the business from the ground up.
He helped pack boxes of powder and cleansing oils, absorbing the importance of personal touch and attention to detail—values that would shape his entire career.
After serving as a lieutenant in the US Navy, Leonard earned his business stripes at Columbia University.
In 1958, at just 25, he officially joined the family business, which at the time was a modest operation with fewer than a dozen employees and annual sales under $1 million.
Fast forward to today, and the Estée Lauder Companies is a global powerhouse, boasting brands like Clinique, La Mer, MAC, Bobbi Brown, and The Ordinary.
A visionary leader and industry pioneer
Leonard’s leadership was transformative. He served as president for 23 years, then as CEO from 1982 to 1999, and later as chairman until 2009.
Under his guidance, the company went public in 1995, debuting on the New York Stock Exchange at $26 a share—a move that helped propel its market value to over $24 billion.
But Leonard wasn’t just a numbers man. He was a pioneer in marketing and customer relations, famously eschewing traditional advertising in favour of generous sampling.
‘If you give a customer a sample of a product and they like it, they come back and buy it again and again and again—that’s what builds the business,’ he once said.
This approach, rooted in his mother’s belief that business is about relationships, helped create generations of loyal customers.
The lipstick index: Beauty in hard times
One of Leonard’s most famous contributions to economic theory is the ‘lipstick index.’ After the September 11 attacks, he observed that lipstick sales soared as women sought small luxuries to lift their spirits during tough times.
The idea that beauty products could serve as affordable pick-me-ups during economic downturns became a widely cited phenomenon, and it’s a testament to Leonard’s keen understanding of both business and human nature.
A heart for philanthropy and the arts
Leonard Lauder’s impact wasn’t confined to the boardroom. He was a passionate philanthropist and art collector, donating a 78-piece collection of Cubist art to the Metropolitan Museum of Art in 2013—the largest single gift in the Met’s history.
He also established a research centre for modern art at the museum, supporting fellowships, exhibitions, and public lectures.
His charitable work extended to health causes as well. Leonard was a driving force behind the Breast Cancer Research Foundation and, alongside his brother Ronald, co-founded the Alzheimer’s Drug Discovery Foundation in 1998.
These initiatives have funded groundbreaking research and offered hope to countless families.
A legacy of kindness and connection
Despite his immense wealth—Bloomberg estimates his net worth at $15.6 billion—Leonard was known for his humility and personal touch.
He was famous for sending handwritten notes to colleagues and business partners, often within 24 hours of meeting them. When asked how he’d like to be remembered, he simply said, ‘He listened… and he was kind.’
His brother Ronald summed it up best: ‘The number of lives he touched and positively impacted across all his endeavours is immeasurable.’
The family business endures
The Lauder family remains at the heart of the company, with three members on the board and a controlling share in the business.
Leonard is survived by his wife, Judy Glickman Lauder, and his sons William and Gary, ensuring that the family’s influence—and values—will continue to shape the beauty industry for years to come.
What can we learn from Leonard Lauder?
Leonard’s story is a reminder that success isn’t just about profits and market share. It’s about relationships, generosity, and a willingness to adapt.
Whether you’re running a business, volunteering in your community, or simply looking for a little inspiration, there’s much to admire in his approach to life and work.
Did you ever use Estée Lauder products, or do you have a favourite beauty brand with a story behind it?
What do you think about the ‘lipstick index’—do you find yourself reaching for small luxuries in tough times? We’d love to hear your thoughts and memories in the comments below!
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