Farewell to Leonard Lauder, author of the global expansion of the giant Beauty, and creator of the economic indicator “Lipstick Index”

Leonard A. LauderPresident Emeritus of Estée Lauder Companiesdied at 92 years old. A press release of the company confirms that the death took place on June 14 in the presence of the family.

He was the eldest son of Estée and Joseph H. Lauder, the co-founders of Estée Lauder Companies (who today owns over 20 luxury beauty brands, including Tom Ford, the Maison Beauty and also the fashion, the Mer, Bobbi Brown Cosmetics, Jo Malone London and, of course, Estée Lauder). Lauder entered the family business in 1958 next to his mother, led her in its global growth starting from a single brand to make it one of the largest companies in the sector. A path told in a 2020 Memoir book, The Company I Keep: My life in beauty.)

In the common imagination Leonard Lauder it also remains associated with the intuition of having coined the Lipstick Indexan index used by economists to measure the market trend. According to which, in case of crisis, consumers will be more likely to buy less expensive luxury goods. The introduction of this concept dates back to 2008, when Leonard Lauder declared that he had noticed a Increase in the sales of lipsticks of his company after the 2001 terrorist attacks. It was used for the first time to describe the increase in cosmetic sales during the recession of the early 2000s. Subsequent market analysis, in particular in the recession periods, then proved to prove the Lauder’s help. The Lipstick Index Since then it has become an expression of common use among economists, and today also thanks to social networks, it is used in common language, so much so that it has been inspired to create other indicators for other cosmetics, including nail enamels, mascaras and perfumes.

But to Leonard Lauder who was president of Estée Lauder Companies from 1972 to 1995 and CEO from 1982 to 1999 is mainly due The world company of the family business worldwide“With innovative sales and marketing programs that have revolutionized the beauty industry”, reads the press release.

He founded the first research and development laboratory of the company and began to acquire brands such as Mac, Bobbi Brown and Aveda In the mid -90s. Lauder resigned from CEO in 1999 and became President Emeritus, known in the company as “Chief Teaching Officer”.

Out of business, Lauder had a great passion for art. In 2013, he donated his collection of cubist works of art from one billion dollars to Metropolitan Museum of Art in New York. He was a philanthropist and great supporter of cancer research and held the position of honorary president of the Board of Directors of the Breast Cancer Research Foundation, one of the largest Non -profit independent organizations to support clinical research on breast cancer at medical institutions in the United States and abroad, known in the world for its symbol: the pink ribbon.

Thanks to this role, Leonard Lauder used to surround himself with celebrities who, like him, supported the same cause and who paid him homage with their thoughts of affection.

Elizabeth Hurley, for example, who got his first job as a model with his company, wrote on Instagram: “I called him my American dad and I can’t imagine a world without him”.

Lauder’s son, William P. Lauder, who today presides over the board of directors of Estée Lauder Companies, added: “During his life, my father has worked tirelessly to build and transform the beauty industry, acting as a pioneer to many of the innovations, trends and the best practices that today are fundamental for the sector. It was the most charitable man I have ever known, believing that art and education belonged to everyone and supporting the fight against diseases such as Alzheimer’s and breast cancer. Above all, my father was a man who practiced kindness with anyone who met. His impact was enormous ».