Sweet smell of succession (Estee Lauder)
Sweet smell of succession (Estee Lauder)
RothD. Fortune (Switzerland), 2005, Vol. 152 No. 5, Start page: 78, No. of pages: 9
Purpose – To provide an insight into the workings of the Estee Lauder cosmetics company and the personalities of the cousins who now run it. Design/methodology/approach – Comments on the difficulties of maintaining a successful family business through several generations. Explains how Estee Lauder emerged from a modest background to found the company and provides a”family tree” showing the share value and voting power of family members. Describes the background, approach and current responsibilities of William Lauder, current CEO, Jane Lauder and Aerin Lauder Zinterhofer. Observes that whilst each of the Lauders has a different personal style, they share an intense dedication to the family legacy. Discusses the breadth of the beauty products portfolio, the company’s strategy and its approach to brand management. Originality/value – Highlights the contribution that personal involvement makes to the lasting success of a family business.
Style: ViewpointISSN: 0738-5587Reference: 34AW833
Keywords: Cosmetics, Management styles, Succession
