Latest news with #LeonardLauder
Yahoo
26-06-2025
- Business
- Yahoo
Winning in Gen Alpha's ‘VirtuReal' World and Making Beauty More Science-driven: Key FIT Capstone Takeaways
'You're lowkey missing the vibe,' said a graduate of the Fashion Institute of Technology's Masters in Cosmetics and Fragrance Marketing and Management program on Thursday evening, kicking off the program's 2025 capstone presentations. She was alluding to the influx of Gen Alpha consumers — and their slang — into the beauty industry and delivering the first of the night's three graduate research presentations, focused on the Gen Alpha beauty opportunity; innovating smartly with AI, and the 'medicalization' of beauty. More from WWD Lauren Sánchez's Glam Squad: Meet the Style Architects Behind Her Signature Look EXCLUSIVE: Jenna Bush Hager Teams With ResortPass to Rethink the Laws of Motherhood Ulta Beauty CFO Paula Oyibo Departs; Chris Lialios Named Interim Successor The night began at the school's Haft Theater with an acknowledgment of Leonard A. Lauder, who passed away earlier this month at age 92 and was, as professor and chairperson of the program Stephen Kanlian put it, 'an icon of the industry and the brainchild of the [CFMM] program.' FIT president Dr. Joyce F. Brown, who has stepped down from the role at the end of the 2024-2025 academic year after a nearly 26-year run, also delivered opening remarks. Gen Alpha, the oldest of whom are now 15 years old and are otherwise referred to as 'Sephora kids,' represent the 'longest customer relationship opportunity in beauty history,' graduates said. The cohort spent $8 billion on beauty in 2023, a number that grew to $14 billion in 2024. They are making their first beauty purchase as young as 6 years old, are expected to live well into their 80s, and are thus poised to be 'the most valuable generation in beauty,' one graduate said. 'Gen Alpha isn't defined by conventional life stages; they're defined by behaviors, values and experiences that are continuously evolving,' said one graduate. 'In the 'virtureal' world, Gen Alpha's flagship beauty destination is their phone; their beauty counter, a TikTok feed; their sampling bar, an AR filter — they're not just hanging out online, they're living there,' added another. The group, or Generation 'Next,' as graduated dubbed the presenters, have skin concerns that shift roughly every 18 to 24 months, from hydration to acne and beyond. Their favorite brand, too, changes roughly every 120 days. 'This demands faster, more agile product development,' one graduate said. While AI is currently used to make product recommendations based on an individual's concerns, graduates imagine that, in the future, it can be used to create 'base formulas with adaptable ingredients that respond in real time to the environment, stress and skin changes.' The kinds of predictive data harnessed by tech giants like Netflix and Amazon to create hyper-personalized user experiences must be adopted by beauty players who want to win, too. At the same time, it's crucial to navigate the world of generative AI with intention given that large language models can internalize biases in the data they are trained with. Companies must familiarize themselves with the risks of AI before diving in to avoid 'building on shaky ground,' one graduate said. Consumers are quickly embracing AI — 68 percent said they trust AI-generated product recommendations over traditional marketing claims — and brands, too, must not only keep up, but stay ahead. Food and beverage companies like Oreo-maker Mondelez International are already using AI to 'forecast demand, speed up development times, conduct sharper clinical trials and smarter scenario planning,' offering a model for beauty companies looking to do the same. As GLP-1s like Ozempic increasingly impact the beauty and wellness industries and the longevity movement gains steam, the future of beauty will be 'medical,' graduates said. This means 'consumers are turning to integrated medicine to solve beauty concerns,' while the prevailing formulation theme shifts 'from clean to clinical to medical.' According to graduates' research, 60 percent of consumers agree that it is 'very important' to purchase longevity products, while 70 percent plan to buy more in the future. Seventy-nine percent of plastic surgeons, meanwhile, say that 'looking better in selfies and on video calls' is a major reason why consumers are seeking cosmetic procedures. In the last four years alone, aesthetic procedures have surged 40 percent. The graduates define medicalized beauty as the convergence of aesthetics with medicine, where 'beauty concerns are reframed as biological,' rather than being 'skin-deep.' To resonate with consumers moving forward, brands should lean into science-based formulas, 'clinical visual cues' in packaging and e-commerce, increasingly collaborate with dermatologists and aestheticians and ramp up investments in product research and development. 'Imagine what could happen if beauty spent less money on selling, and more on solving,' one graduate said. 'In the future, beauty consumers will live in an optimization culture where wellness isn't a trend, it's infrastructure,' said another. The next generation coming to shake up the beauty industry includes: Chloe Lo; Hallie Gersten; Al Mezo; Angela Toscano; Rahul Sabhnani; Marisa Mazzoni; Sophia Mohamed; Caroline Bartholomew; Ali Valentin; Joshue Joseveski; Alejandra Espinosa; Haley Spechler; Rachael Larsen; Kathryn Wanner; Alexandra Voigt; Carolyn Kosturik; Brianna Bookhart; Marisa Hann; Rina Yashayeva; Julia Buonanno; Bari Blitzer; Brittany O'Leary; Delilah Owens-Schwartz; Vince Stavale and Miranda Huang. Best of WWD Which Celebrity Brands Are Next for a Major Deal? Lady Gaga, Beyonce and More Possible Contenders for the Next Corporate Prize The Best Makeup Looks in Golden Globes History A Look Back at Golden Globes Best Makeup on the Red Carpet, From Megan Fox to Sophia Loren [PHOTOS]
Business Times
18-06-2025
- Business
- Business Times
Succession at Estee Lauder
THE passing of Leonard Lauder last week (June 14) at age 92 marks more than the end of a personal chapter – it closes an era for one of the most iconic family-run businesses in global beauty. As someone who spent years in the media industry, where beauty advertisers often account for up to 40 per cent of total revenue, I've long held a deep affinity for cosmetic brands – especially Estee Lauder – shaped by both professional experience and personal encounters. In the early part of my career, I was based in Tokyo, as part of the global leadership ad sales team at Elle magazine. One of the defining memories of that chapter was travelling to New York to present a global partnership programme to the Estee Lauder global leadership team. I was representing Asia, and while I didn't get to meet Leonard Lauder himself, his vision was present in every conversation – the precision, the pride, the promise of timeless beauty. That season also gave me the privilege of meeting and engaging with some of the most influential figures in the beauty industry – founders and next-generation chairmen and chief executive officers whose names are synonymous with luxury and excellence. I met Hiroshi Uemura of the Shu Uemura family, Yoshiharu Fukuhara of the Shiseido family, and Christian Courtin of the Clarins family. I've always been deeply interested in family entrepreneurship. These weren't just professional encounters – they were windows into the soul of family-owned empires, each grappling with legacy, innovation and succession in their own way. My connection to Estee Lauder deepened at home. My wife worked under the Aramis brand, part of the Estee Lauder Companies, and I became an Aramis user myself. I could even recognise the distinct scent of White Linen when someone wore it – a reminder of a household legendary brand. One of my most defining career moments came later, during my tenure as president of Mindshare China, when we won the largest advertising pitch in China's history – the L'Oreal China account, valued at US$2.5 billion. We mobilised over 90 professionals across cities to present a unified brand strategy for L'Oreal Paris, Lancome, Maybelline, and Kerastase. It was a powerful lesson in alignment and storytelling at scale – and deepened my appreciation for how global beauty brands, especially family-founded ones, balance legacy and innovation. Now, as a family legacy planner, I find myself drawn to examining how the Estee Lauder family navigated succession – not just as a business case, but as a generational journey of values, vision, conflict management, and continuity. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up A succession strategy worth studying What makes Estee Lauder's journey particularly remarkable – and relevant to those of us in the world of family enterprises – is how it has navigated succession across three generations, blending professionalism with preservation. Estee Lauder, the founder, built not just a beauty brand but a household name. Her son, Leonard Lauder, scaled the business globally, acquiring key brands and turning the company into a public powerhouse. His son William took over as CEO in 2004 and later transitioned to chairman. Meanwhile, Jane Lauder, a third-generation leader, held key roles in digital transformation and brand management, and was widely seen as a potential successor – until internal dynamics made the path less clear. In recent years, there were signs of internal disagreement within the family leadership. Public reports alluded to differences in views between Jane Lauder and her cousin William regarding the company's direction. It marked a typical instance of visible tension within a business family long regarded for its cohesion. Rather than allow the business to be entangled in internal politics, the Lauder family made a bold but measured move: they appointed Stephane de La Faverie, a seasoned executive, as the company's first non-family CEO. Jane stepped down from operational duties but retained a board seat. William moved fully into a strategic governance role. This was not a retreat. It was a recalibration – a shift from operational control to strategic stewardship. Control through structure Even with only about 35 per cent equity ownership, the Lauder family retains 86 per cent of voting power through a dual-class share structure – giving them enduring influence over the direction of the company. This structure – often misunderstood – has allowed the family to: Maintain long-term vision and brand values Avoid short-termism from outside investors And, when necessary, make difficult but decisive leadership changes While Estee Lauder Companies faced recent headwinds – notably from slowed growth in China – the leadership transition and ongoing restructuring have been positively received by the market. It's a reminder that well-governed family firms can both adapt and endure. Lessons I learned The Estee Lauder story is a living example of how legacy businesses can evolve: 1. Structure is power: With thoughtful planning, families can retain control without needing majority ownership. 2. Letting go is leadership: Knowing when to step back – and how – is often the hardest but most strategic move. 3. Governance evolves: From founder-led to professionally managed, the company's journey shows that values can outlive titles. 4. Conflict happens; resolution must be designed: The family's maturity in managing differences while preserving unity is a lesson for every business family. 5. Brand is legacy: What Estee built was not just a business, but a belief – the promise that every woman can be beautiful. I agree. Final thought: AI as the next legacy frontier As someone who has had the privilege of working with and learning from some of the world's most iconic beauty brands – and who now advises families navigating succession and legacy – I find the Lauder story both personal and inspiring. It reminds us that while brands can be bought, legacies must be built – and guarded. Now, a new frontier demands equal attention: artificial intelligence. In June 2025, L'Oreal announced a strategic partnership with Nvidia, leveraging advanced AI tools to personalise customer experiences, power virtual beauty consultations, and drive data-driven content creation across its multi-brand portfolio. As legacy beauty brands transition to professional management, they must also embrace technological transformation. The Estee Lauder legacy story continues. The writer is a family enterprise adviser and educator
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Vogue
17-06-2025
- Entertainment
- Vogue
Beauty Editor Shirley Lord Reflects on 60 Years of Friendship with Leonard Lauder
Vogue Contributing Editor Shirley Lord has been a beauty editor and author for almost eight decades, beginning her career on Fleet Street at 17 years old. She was the Beauty Director of American Vogue for 16 years and was close with Leonard Lauder for over half a century. Following his death on June 15th, she wrote a reminiscence for Vogue. I first met Leonard Lauder and his vivacious, adorable wife, Evelyn, in my London home—was it fifty, sixty years ago? Not sure of the date, but certain, as Beauty Director of British Harper's Bazaar and a columnist for London's newspaper, The Evening Standard, none of us dreamed I would cross the pond and eventually become Beauty Director of American Vogue and an American citizen! That evening, so long ago, my two sons were young, and Leonard especially was thrilled they bounced into the sitting room, upsetting the hors d'oeuvres and having a mock (or was it so mock) fight together. 'Just like our kids back home,' he said warmly, relaxing even more into the sofa. Leonard was very much a family man, and that very much included being a model son to his parents, Joe and Estée Lauder. In fact, at the time Joe and Estée had separated, but Joe having heard that little Leonard was battling an infection, had dropped by to visit—and never went home! I didn't comprehend, along with the majority of Lauder fans, that right from the beginning of the Lauder empire, the decision was made between mother and son, that Leonard would run the company completely, building the Estée Lauder name while his mother would represent it. He told me once that he had to make it clear to his mother that all business decisions had to be his and there could never be any discussion or certainly any disagreement about it. Leonard introduced brilliant marketing ideas that we take for granted today: 'gift with purchase,' special packaging for Christmas, Easter, spring and summer, seasonal makeup. I remember a cross phone call from Leonard after l'd had lunch with his mother: 'Please don't give my mother any ideas for products! That can throw our year's budget totally in turmoil.' I didn't realize then that for every product, the budget included the cost of the electric light used in the factory to make it. Estée and I became very close, but I never dared to come close to any product suggestions again. Over the years, Leonard came into the Vogue office a few times to talk about the business of cosmetics—not just to the beauty department, but to the whole staff and he asked as many questions as he answered—about how we operated and gathered information. As the Vogue staff concurred, he was so approachable, warm and witty, we all wished he could be our boss or at least one of them!
17-06-2025
- Business
Leonard Lauder, who globalized family cosmetic business, dies at age 92
NEW YORK -- Leonard Lauder, a renowned philanthropist who expanded the family cosmetics business into a worldwide empire, has died at the age of 92. Estee Lauders 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 U.S. stores to a multi-brand global giant. He had 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 Lauder family still have about 84% of the voting power of common stock, according to the latest annual filing. Lauder served as president of The Estée 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 Estée 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 Estée 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 United States Navy. Lauder studied at Columbia University's graduate school of business. He served as a lieutenant in the U.S. Navy and as a Navy reservist, for which the U.S. 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.
Yahoo
17-06-2025
- Business
- Yahoo
S&P 500 Gains and Losses Today: AMD Stock Soars as Analyst Praises Next-Gen Server Rack Architecture
The S&P 500 added 0.9% on Monday, June 16, as investors absorbed the possibility of cooling geopolitical tensions and looked toward this week's Federal Reserve meeting. AMD shares surged as analysts reacted favorably to the chipmaker's "Advancing AI" event. Aerospace and defense stocks moved lower as the possibility of a ceasefire between Iran and Israel U.S. equities indexes pushed higher following reports that Iran is willing to return to negotiations over its nuclear program as it aims to ease hostilities with Israel. In addition to the rapidly shifting geopolitical landscape, investors will have plenty to keep an eye on this week, including the Federal Reserve's upcoming interest-rate decision and possible tariff developments, with markets set to take a break for Thursday's Juneteenth holiday. The S&P 500 added 0.9% on Monday, while the Dow 0.8%. Outperformance in the communication and technology sectors helped lift the Nasdaq, which advanced 1.5%. Prestige beauty products maker Estée Lauder (EL) announced that Leonard Lauder, former CEO and eldest son of the company's namesake founder, had passed away at 92. Lauder was a driving force behind the makeup giant's global expansion.. Despite the company's bereavement, Estée Lauder shares jumped 10.8%, logging the top daily performance in the S&P 500. Analysts at Piper Sandler boosted their price target on Advanced Micro Devices (AMD) stock following the chipmaker's "Advancing AI" event last week. The Piper Sandler team highlighted enthusiasm around AMD's freshly unveiled Helios server rack architecture, which will combine the company's next-generation AMD MI400 chips into one larger system, anticipated for release in 2026. AMD shares surged 8.8% on Monday. MGM Resorts International (MGM) shares gained 8.1% after the casino operator and its London-listed partner, Entain, raised forecasts for BetMGM, their co-owned sports betting and iGaming platform. Shares of hotel and casino rivals Las Vegas Sands (LVS) and Wynn Resorts (WYNN) also moved higher. Aerospace and defense stocks surged at the beginning of last week as Israel and Iran exchanged attacks. However, on Monday, Lockheed Martin (LMT) shares dropped 4%, the most of any S&P 500 stock. Shares of fellow defense contractors Northrop Grumman (NOC) and L3Harris (LHX) were down 3.7% and 3.6%, respectively. Shares of Charter Communications (CHTR) sank 3.5% on Monday. Over the weekend, there were reports of outages for the telecom firm's Spectrum internet and cable services in Southern California. Charter indicated that the outages were related to an act of vandalism. Moderna (MRNA) shares were down 2.5% on Monday. Analysts expressed concerns about overall RSV vaccination rates in the U.S. and uncertainties over how Health Secretary Robert F. Kennedy Jr.'s overhaul of the Centers for Disease Control and Prevention's vaccine advisory committee could affect future recommendations. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
