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Leonard Lauder Talks Beauty, Brand Building, Wayne Gretzky

Leonard Lauder, the chairman emeritus at the Estée Lauder Cos., is full of wise words.
Some, like, “When sex goes out of business, so are we,” he borrows from his late mother, Estée, who founded the namesake business. But others, like “people don’t work for money, they work for recognition,” are his own, infused with the deep passion for mentoring that has become the hallmark of his career.
Lauder, the third recipient of the John. B Fairchild honor, is credited with turning what was once an $800,000 one-brand-one-market business into a 29-brand $13.6 billion global conglomerate. He led the charge on bold moves — expanding into the U.K. before global expansion was the norm, and going public in 1995 at $26 per share. (The firm is now trading at above $140 per share).
But beyond that, he is credited with mentoring a generation of beauty executives, and encouraging those around him not to be afraid to take risks. “Everyone who works for us is basically bulletproof,” Lauder said. “We encourage them to take chances. I give a course in the company called ‘Brand Equity’ and one of the sessions I have is ‘Leonard Lauder’s Chamber of Horrors.’ What is that? All the mistakes

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Via:: https://wwd.com/beauty-industry-news/beauty-features/leonard-lauder-talks-beauty-brand-building-wayne-gretzky-1202896803/