logo
Leonard Lauder, philanthropist who globalized family cosmetic business, dies at age 92

Leonard Lauder, philanthropist who globalized family cosmetic business, dies at age 92

Al Arabiya16-06-2025
Leonard Lauder, a renowned philanthropist who expanded the family cosmetics business into a worldwide empire, has died at the age of 92. Estee Lauder Cos. announced the news in a release on Sunday and said he died on Saturday surrounded by family.
Lauder, the oldest son of Estee and Joseph H. Lauder, who founded the company in 1946, formally joined the New York business in 1958. Over more than six decades, Lauder played a key role in transforming the business from a handful of products sold under a single brand in US stores to a multi-brand global giant. He held the title of chairman emeritus at the time of his death. Estee Lauder's products are sold in roughly 150 countries and territories under brand names including Clinique and Aveda, according to the company's latest annual report. The company generated sales of nearly $16 billion in the fiscal year ended June 30, 2024, the filing said. Estee Lauder went public in 1995, but members of the Lauder family still have about 84 percent of the voting power of common stock, according to the latest annual filing.
Lauder served as president of The Estee Lauder Cos. from 1972 to 1995 and as CEO from 1982 through 1999. He was named chairman in 1995 and served in that role through June 2009. Under his stewardship, Lauder created the company's first research and development laboratory, brought in professional management at every level, and was the impetus behind The Estee Lauder Cos.' international expansion, helping to spearhead the company's sales and profits exponentially, according to the company. Lauder led the launch of many brands including Aramis, Clinique, and Lab Series, among others. Until his death, he remained deeply involved in the company's acquisition strategy, including the acquisitions of such brands as Aveda, Bobbi Brown, Jo Malone London, and MAC, the company said.
During his years as chairman emeritus, Lauder was closely involved in the business and day-to-day operations and was a constant fixture at its global headquarters in New York and at its stores around the world until the time of his death, the company said. '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,' said William P. Lauder, son and chair of the board at The Estee Lauder Companies, in a statement. 'He was the most charitable man I have ever known, believing that art and education belonged to everyone and championing the fight against diseases such as Alzheimer's and breast cancer.'
Lauder was a longtime patron of the Metropolitan Museum of Art, and in 2013 pledged his 78-piece collection of Cubist art to the museum in the largest single philanthropic gift in the museum's history. He later added five major works to that pledged gift, the company said. In concert with his Cubist collection donation, he helped establish the Leonard A. Lauder Research Center for Modern Art at the Met to support a program of fellowships, focused exhibitions, and public lectures. He also was the Whitney Museum of American Art's chairman emeritus and a trustee from 1977 to 2011.
Lauder was married to Evelyn H. Lauder, who had been the senior corporate vice president at the cosmetic company and the founder of the Breast Cancer Research Foundation, from 1959 until she passed away in 2011. On Jan. 1, 2015, Lauder married Judy Glickman Lauder, a philanthropist and internationally recognized photographer.
Lauder was born in 1933 in New York City. He was a graduate of the Bronx High School of Science, the University of Pennsylvania's Wharton School, and the Officer Candidate School of the US Navy. Lauder studied at Columbia University's graduate school of business. He served as a lieutenant in the US Navy and as a Navy reservist, for which the US Navy Supply Corps Foundation later recognized him with its Distinguished Alumni Award.
In addition to his wife and son William, Lauder is survived by his other son, Gary M. Lauder, and wife Laura Lauder; five grandchildren; two great-grandchildren; many stepchildren and step-grandchildren; as well as his brother, Ronald S. Lauder, and wife Jo Carole Lauder, and their daughters, Aerin Lauder and Jane Lauder.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Bankrupt Jewelry Retailer Claire's to Sell Its North America Business
Bankrupt Jewelry Retailer Claire's to Sell Its North America Business

Asharq Al-Awsat

time2 hours ago

  • Asharq Al-Awsat

Bankrupt Jewelry Retailer Claire's to Sell Its North America Business

Fashion jewelry retailer Claire's said on Wednesday it would sell its North America business to private equity firm Ames Watson for an undisclosed amount, as the company aims to cut losses while navigating ongoing US bankruptcy proceedings. The retailer operating more than 2,300 stores across 17 countries in North America and Europe, disclosed $690 million in debt in US bankruptcy court filings in Delaware earlier this month, marking its second bankruptcy protection filing since 2018. "The sale of these stores and Claire's IP to Ames Watson will significantly benefit the Company's efforts to create value through its Restructuring Proceedings," the company, which sells necklaces, bracelets and accessories, including headphones and soft toys, said. The sale requires approval from the US and Canadian courts. Ames Watson is a permanent capital holding company generating more than $2 billion in revenue, according to its website. It acquires, transforms, and partners with middle-market companies to build long-term value. Claire's has suffered in recent years from increased competition, high rent costs, and new tariffs on imports from supplier nations such as China, Thailand and Vietnam. The company said liquidation will continue for its other North American stores that are not being sold. "We are glad to reach this definitive agreement to sell a portion of our North America operations to Ames Watson and maximize the value of our company for all our stakeholders," CEO Chris Cramer said. Ames Watson co-founder Lawrence Berger said that the firm was "committed to investing in its (Claire's) future by preserving a significant retail footprint across North America."

Estee Lauder Forecasts Annual Profit Below Estimates as Tariffs Hit
Estee Lauder Forecasts Annual Profit Below Estimates as Tariffs Hit

Asharq Al-Awsat

time2 hours ago

  • Asharq Al-Awsat

Estee Lauder Forecasts Annual Profit Below Estimates as Tariffs Hit

Estee Lauder forecast annual profit below Wall Street estimates on Wednesday, as the cosmetics giant grapples with persistent weakness in the US and China markets and tariff uncertainty. Shares of the company were down about 12% in premarket trading. The company expects a hit of about $100 million from tariff-related headwinds to fiscal 2026 profitability. Estee Lauder, like other luxury brands and retailers, took a hit from consumers keeping a tight lid on expenses in the face of surging product prices owing to US President Donald Trump's sweeping tariffs on imports. The company expects full-year adjusted earnings per share to be in the range of $1.90 to $2.10, compared with analysts' estimates of $2.21 per share, as per data compiled by LSEG.

Report: Musk Quietly Puts Brakes on Plans for New Political Party
Report: Musk Quietly Puts Brakes on Plans for New Political Party

Asharq Al-Awsat

time2 hours ago

  • Asharq Al-Awsat

Report: Musk Quietly Puts Brakes on Plans for New Political Party

Billionaire Elon Musk is quietly putting the brakes on plans to start his new political party, telling allies he wants to focus on his companies, the Wall Street Journal said on Tuesday, citing people with knowledge of the plans. Musk unveiled the "America Party" in July after a public dispute with President Donald Trump on the tax cut and spending bill. He has recently been focused in part on maintaining ties with Vice President JD Vance, the paper said, and has acknowledged to associates that forming a political party would damage his relationship with Vance. Musk, the world's richest man, and his associates have told people close to Vance that the billionaire is considering using some of his financial resources to back Vance if he decides to run for president in 2028, the paper said. The CEO of Tesla and SpaceX spent nearly $300 million in 2024 to help Trump and other Republicans get elected, exerting enormous influence in the first few weeks of Trump's term as head of the newly created efficiency department (DOGE). Reuters could not immediately verify the Journal report. Tesla and the White House did not immediately respond to a Reuters request for comment outside regular business hours. Vance, who had called for a truce following Musk's all-public feud with Trump, reaffirmed his position this month and said he had asked Musk to return to the Republican fold. Tesla shares are down more than 18% this year after it posted in July its worst quarterly sales decline in more than a decade and profit that missed Wall Street targets, though its profit margin was better than many had feared. Musk also warned of "a few rough quarters" after the end of support for electric vehicles by the Trump administration. Investors worry whether he will be able to devote enough time and attention to Tesla after locking horns with Trump over his ambitions for a new political party.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store