For this assignment, I will discuss the life story of Estee Lauder and her success in beauty and cosmetics. Her uncle, Dr. Schotz, introduced her to the cosmetics business. She started by selling his Six-In-One cream in 1924. In 1944, she set up her own office and continued with what would later become Estee Lauder Cosmetics Inc. in 1947. Their initial breakthrough came after Lauder and her husband won a concession from Saks Fifth Avenue to sell their cream in 1948. In only two days, they had sold all their initial products. In Lauder’s entrepreneurship journey, she never worked a day without making sales. She attributed her success to ambition and an uncompromising belief in her product and the beauty in all women.
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ESTÉE LAUDER COSMETICS INC.
After forming Estee Lauder Cosmetics Inc., Lauder and her husband were the only ones working in the organization. At the time, they only sold several cosmetic products. They used the kitchen of a former restaurant to make their products. In the next year, there was a breakthrough in Lauder’s entrepreneurship journey, where she landed her first department store order for her cosmetics from Saks Fifth Avenue. Around the same time, Lauder also originated the practice of giving a free gift with a purchase marketing strategy. The life story of Estee Lauder as an entrepreneur improved further with the launch of her Youth Dew product. This bath oil also doubled as a perfume, and it quickly became very popular with consumers.
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THE JOURNEY OF ESTEE LAUDER AS A YOUNG ENTREPRENEUR
Estee Lauder’s entrepreneurship journey began after her uncle John Schotz, came to live with the family. He started working on his “secret” skin-care products in the stable behind the Mentzer’s house and began concocting his creams with young Estee at his side. By watching and learning, she went ahead to form the well-known Estee Lauder Cosmetics Inc. At the time, she had a determination to become a scientist as well. She hawked her uncle’s products to her classmates at Newton High School. She would even go as far as to give them complete makeovers to prove the quality of her uncle’s products. The life story of Estee Lauder continues to serve as a source of inspiration to many upcoming entrepreneurs.
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