Leonard Lauder grew up in a kitchen that smelled like face cream. His mother Estée cooked cosmetics on the stove while he watched. Women would ring the doorbell, get facials in the bedroom, and leave with glowing skin and a few jars in their purse. 80 years later, Leonard sits down to write his memoirs. Where does he start? That kitchen.This episode tells the story of how Leonard took his mother's small business and turned it into a global beauty empire. The book is called The Company I Keep - My Life in ...
Leonard Lauder grew up in a kitchen that smelled like face cream. His mother Estée cooked cosmetics on the stove while he watched. Women would ring the doorbell, get facials in the bedroom, and leave with glowing skin and a few jars in their purse. 80 years later, Leonard sits down to write his memoirs. Where does he start? That kitchen.
This episode tells the story of how Leonard took his mother's small business and turned it into a global beauty empire. The book is called The Company I Keep - My Life in Beauty, and it reads like a playbook.
Leonard learned business by osmosis. At six years old, he could tell which outfits suited which women. At ten, he sold military patches to classmates and put every dollar in the bank. At thirteen, he worked in the family factory after school, typing invoices for twenty-five cents an hour. He wasn't just "a" billing clerk - he was "the" billing clerk.
One scene stands out. Leonard sits at a dinner table with his parents, their accountant, and their lawyer. His parents announce they want to go wholesale. The experts beg them to stop. "You'll lose everything!" But Estée and Joe push forward anyway. Their response stuck with Leonard for life: "Good accountants and lawyers make good accountants and lawyers. But we make the business decisions."
The episode traces Leonard's path from that kitchen to Wharton, then to the Navy, where he learned he wasn't the smartest guy in the room. He finished 12th out of 24 in officer training. That humbled him. He made a vow: hire people smarter than yourself. The head of sales should sell better than you. The copywriter should write better copy. Never feel threatened by talent. Celebrate it.
After the Navy, Leonard went skiing in Vermont. Blue sky, fresh snow. He made a choice on that slope. Estée Lauder would be his life's work. His goal? Make it the General Motors of beauty - multiple brands, multiple products, global reach.
He did just that. When ad firms turned them away for not having enough money, Estée bet everything on free samples. Not tiny packets - full-size products that lasted 60 days. Women lined up down the block. When Leonard saw he'd oversold his college film club (1,500 members, 800 seats), he started a second club to compete with his first. No one knew he ran both. That lesson became Clinique - a brand built to compete against Estée Lauder itself.
Leonard watched everything. He visited stores on his honeymoon. He planned family trips around counter visits. He saw a woman in China unbutton her dull coat to reveal bright red silk underneath. Hidden beauty. That's how he knew to expand into China.
The episode also covers his concept of lateral creativity - taking ideas from anywhere and using them in business. An architect told him about planting young trees to replace old ones when they die. Leonard thought: we need young brands to understudy our flagship. That insight led to buying MAC and Bobbi Brown and developing an acquisition playbook.
By the end of his run, Estée Lauder had 25 brands in 150 countries. But when asked what he's most proud of, Leonard doesn't talk about products or sales. He talks about mentoring people.
This book belongs on the shelf next to Sam Walton and Trader Joe. It's a masterclass hidden inside a memoir.
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Past Episodes
Estée Lauder: Divine Purpose of Beauty
#16 How Jim Casey Turned Service Into UPS's Superpower
#3 Becoming Trader Joe | Business Masterclass from a Legend
Sam Walton: Simple Ideas & Deep Business Impacts
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