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Estee Lauder

In: Business and Management

Submitted By briannerae12
Words 314
Pages 2
1.0 INTRODUCTION
1.1 COMPANY’S BACKGROUND
Estee Lauder Company was founded in 1946 by Estee Lauder and her husband Joseph Lauder. It is a manufacturer and marketer of four cosmetic product lines, which include skin care, makeup, fragrances and hair care products in the world. In U.S. prestige cosmetics category, Estee Lauder Companies has a market share of about 46 percent.
In 1948, Estee Lauder established their first department store account with Saks Fifth Avenue in New York. During the next 15 years, the products were selectively distributed in other stores in the United States. By 1960, Estee Lauder was an international corporation selling their products in the famous Harrod’s Department Store in London. Within a few shorts, they opened outlets in Central America, Denmark, Hong Kong, Italy, Spain, Sweden, Belgium, New Zealand and Switzerland.
The first Estee Lauder products sold were Super Rich All Purpose Crème, Crème Pack, Cleansing Oil, and Skin Lotion. Additional brands such as Aramis, a line of prestige fragrance and grooming products for men was launched in 1964, and Clinique, the first dermatologist-guided, allergy-tested, fragrance-free cosmetics brand was launched in 1968. Prescriptive, a color authority with an advanced collection of highly individualized products, was founded in 1979. Lab Series Skincare for Men, specializing in men’s treatment was debuted in 1987. Origins, a plant-based line of skin care, makeup, bath or body and sensory therapy product were introduced in 1990. Besides this, the company signed a global licensing agreement with designer Tommy Hilfiger in 1993. In 1994, the Estee Lauder acquired a majority interest in MAC, but the acquisition was completed in 1998. In 1995, the company acquired a second makeup artist line, Bobbi Brown essentials. Estee Lauder also acquired the luxury skin care brand La Mer and signed a global licensing agreement with Kiton, which is an Italian fashion house for beauty products…...

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