Leonard Lauder, the esteemed figure behind one of the leading companies in the beauty industry, passed away on Saturday at the age of 92. This announcement was made by Estée Lauder Companies, which was co-founded by Leonard’s parents, Estée and Joseph H. Lauder. His contributions to the cosmetics sector were extensive and transformative, marking him as a true pioneer in this field.
In a heartfelt statement released by the family, William P. Lauder, Leonard’s son and the chairman of the company’s board of directors, emphasized his father’s remarkable dedication and influence. He stated that Leonard “worked tirelessly to build and transform the beauty industry,” highlighting his father’s role in pioneering innovations and trends that have become foundational to the industry today.
Leonard Lauder’s journey began in the bustling environment of New York City, born into a Jewish family where he was often seen accompanying his mother on sales calls, learning the ropes of the business from a young age. His formal education took place at Columbia University’s School of Business, but not before serving as a lieutenant in the United States Navy for three years. His connection to the cosmetics industry solidified when he officially joined Estée Lauder at the age of 25, back in 1958, a time when the company had only a handful of employees and revenues of less than a million dollars.
Under his leadership, Estée Lauder Companies expanded and evolved into a global empire with an impressive portfolio that includes beloved brands such as Clinique, La Mer, MAC Cosmetics, and Bobbi Brown Cosmetics. Throughout his career, Leonard held several significant positions, including president for 23 years starting in 1972 and chief executive officer from 1982 to 1999. He transitioned to chairman in 1995 and maintained that role until 2009.
A milestone in Leonard’s career was the company going public on the New York Stock Exchange in 1995 at a price of $26 per share. Since then, Estée Lauder Companies has seen its market capitalization soar to around $24.3 billion, a testament to its successful growth and influence in the industry. Leonard himself amassed a personal fortune, as reported by Bloomberg’s Billionaire Index, amounting to approximately $15.6 billion.
Reflecting on his legacy during a 2020 CBS News interview, Leonard Lauder expressed a desire to be remembered for his kindness and attentiveness. He was known for his unique relationship-building strategies, which included sending intimate, often handwritten notes to those he met. This technique echoed the practices of his mother, Estée Lauder, who believed that business was fundamentally about relationships.
Leonard was also credited with identifying “the lipstick index.” He observed that during economic downturns—most notably after the attacks on September 11, 2001—cosmetic sales, especially lipsticks, tended to rise as women sought affordable luxuries. According to his research, during the fall of 2001, lipstick sales surged by 11%.
Beyond his business ventures, Leonard was a compassionate philanthropist and art collector. His 2013 donation of a 78-piece collection of cubist art to the Metropolitan Museum of Art in New York City marked the largest single philanthropic gift in the museum’s history. He also established a center for modern art that supported research, exhibitions, and public lectures.
An advocate for various causes such as cancer research, Leonard served as an honorary chairman of the Breast Cancer Research Foundation’s board. In collaboration with his brother Ronald S. Lauder, he co-founded the Alzheimer’s Drug Discovery Foundation in 1998, emphasizing research aimed at preventing, treating, and curing Alzheimer’s disease.
Leonard Lauder’s influence extended far beyond just his professional accomplishments; it touched lives in myriad ways, as noted by Ronald Lauder, who said, “His impact will be felt for generations.” The Lauder family remains deeply involved in the company, continuing to carry forward the legacy built by Leonard and his parents. Survived by his wife, Judy Glickman Lauder, and sons William and Gary, Leonard Lauder’s legacy will endure through the countless lives he impacted and the significant strides made within the beauty industry.