NEW YORK – Leonard Lauder, the visionary philanthropist who transformed his family’s cosmetics business into a global powerhouse, passed away at the age of 92. Estee Lauder Companies announced his death in a statement on Sunday, noting he died on Saturday surrounded by family.
Immediate Impact
Lauder, the eldest son of Estee and Joseph H. Lauder, joined the New York-based company in 1958. Over more than six decades, he was instrumental in expanding the business from a single brand sold in U.S. stores to a multi-brand international giant. At the time of his passing, Lauder held the title of chairman emeritus.
Key Details Emerge
Estee Lauder’s products are now available in approximately 150 countries and territories under brand names such as Clinique and Aveda. According to the company’s latest annual report, it generated nearly $16 billion in sales for the fiscal year ending June 30, 2024.
Estee Lauder went public in 1995, with the Lauder family retaining about 84% of the voting power of common stock.
Industry Response
Under Lauder’s leadership, the company established its first research and development laboratory, introduced professional management, and spearheaded international expansion. His strategic vision led to the launch of brands such as Aramis, Clinique, and Lab Series.
“Throughout his life, my father worked tirelessly to build and transform the beauty industry,” said William P. Lauder, son and chair of the board at The Estée Lauder Companies.
By the Numbers
- Estee Lauder products sold in 150 countries
- Fiscal year 2024 sales: $16 billion
- Lauder family controls 84% of voting power
Background Context
Lauder’s influence extended beyond cosmetics. A longtime patron of the Metropolitan Museum of Art, he pledged his 78-piece Cubist art collection to the museum in 2013, marking the largest single philanthropic gift in the museum’s history. He also helped establish the Leonard A. Lauder Research Center for Modern Art at the Met.
Lauder was married to Evelyn H. Lauder from 1959 until her death in 2011. He later married Judy Glickman Lauder in 2015. He is survived by his sons William and Gary, five grandchildren, and two great-grandchildren.
What Comes Next
Lauder’s legacy is not only in the brands he helped build but also in the philanthropic paths he forged. As the company continues to thrive, industry watchers will be keen to see how Estee Lauder Companies navigates future challenges and opportunities in the beauty sector.
The announcement of his passing comes as the company remains a leader in the beauty industry, with a strong commitment to innovation and global expansion.
