Leonard Lauder, the eldest son of Estée and Joseph H. Lauder, and a pivotal figure in the beauty industry, passed away at the age of 92. The announcement of his death was made by Estée Lauder Companies, where he previously served as the head. His son, William P. Lauder, now the company’s chairman, praised Leonard’s lifelong dedication to revolutionising the beauty sector, highlighting the many innovations he contributed that form the industry’s foundation today.
Leonard was born in New York City to a Jewish family, where he began his journey in the cosmetics business by accompanying his mother on sales calls and helping with product packaging as a child. After serving in the US Navy, he graduated from Columbia University’s School of Business and joined the family business at 25, during a time when Estée Lauder was just beginning to establish itself with limited sales and staff.
Under his leadership, Estée Lauder Companies expanded into a global powerhouse, acquiring prestigious brands such as Clinique, MAC Cosmetics, and Bobbi Brown. He was named the company’s president for 23 years starting in 1972, then chief executive from 1982 to 1999, and later chairman until 2009. During his tenure, he successfully took the company public in 1995, resulting in its current valuation of around $24.3 billion, with his personal net worth estimated at $15.6 billion.
Leonard is credited with introducing the “lipstick index” during economic downturns, observing that sales of smaller luxury items like lipstick tended to rise as consumers sought affordable indulgences in tough times. This insight proved accurate during the aftermath of the 9/11 attacks and the Great Depression, where cosmetics saw increased sales.
A known philanthropist and art collector, Leonard made significant contributions to the arts. In 2013, he donated a substantial collection of cubist art to the Metropolitan Museum of Art, the largest single gift in the museum’s history. His philanthropic efforts extended to cancer research, as he served as honorary chairman of the Breast Cancer Research Foundation and co-founded the Alzheimer’s Drug Discovery Foundation with his brother.
Tributes from his family highlight the profound impact he had on both his industry and the many lives he touched, signalling that his legacy would carry on through his philanthropic efforts and contributions to beauty and art. Leonard Lauder is survived by his wife, Judy Glickman Lauder, and sons William and Gary.