In international cosmetic and skincare industry, many companies are competing against each other to create a niche for themselves in this cut-throat market. However, there is a company whose phenomenal growth and expansion in the global arena can only be attributed to the exemplary organizational skills and innovative strategies of its entrepreneur. The Estee Lauder Corporation owes much of its success in the international market to exceptional entrepreneurial skills of its business leader, William Lauder. This iconic entrepreneur was not only unfazed by the competition in the market but he set the benchmark within the industry for other companies to follow.
William Lauder is the illustrious grandson of Mrs. Estee Lauder – the founder of the Estee Lauder Corporation. This exceptional entrepreneur started the company with her husband in 1946. At that time, she noticed a shortage of high quality skincare products in the market that were safe on the skin. She made it her mission to exploit this acute shortage in the market and convert into a viable commercial opportunity. With this objective in mind, she entered the cosmetic industry at the time with just four premium high quality products. However, this quality of the products and her innovative marketing strategies propelled these products to household names in the American cosmetic industry.
William Lauder was determined to achieve in the international cosmetic and skincare market what his grandmother achieved in the American cosmetic market. His innovative marketing and business strategies were instrumental in the success of many of the company’s products. This included the nine premium products of which he was responsible for during the early days of his association with the company.
William Lauder’s exemplary and innovative promotional and marketing strategies like the concept of a store within a store were an instance success. These strategies created a sensation in the cosmetic industry and revolutionized the concept of marketing within the industry. Moreover, it made the company’s products accessible to more customers around the world.
Even when William Lauder was responsible for the retail and distribution channels of the company, many of his innovation strategies streamlined the entire system. He is the brainchild behind many of innovative promotional and marketing strategies that revolutionized the digital activities of the company. This made it possible for people to obtain the company’s products from the comforts of their homes.
William Lauder is not only an iconic entrepreneur for the Estee Lauder Corporation but also a person who transformed the cosmetic industry. He is the mastermind behind the phenomenal success of the company in the international market.