Estee Lauder Mission Statement Analysis

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Business Description Estee Lauder Companies is a world leader in prestigious beauty products. It operates in 150 countries, incorporates more than 25 brands and has a history of more than 70 years. Estee Lauder Companies was founded as a family business in 1946 with headquarters in Midtown Manhattan, New York City. Started with 4 initial products, it now incorporates fragrances, skin care, hair care, and make-up products. Its main competitors are Unilever, P&G, L’Oréal, and Avon. Initially, the key to the company’s success was its founder Estee Lauder who was a role model for women in terms of beauty and an embodiment of entrepreneur for all the business people. However, such a long-term success cannot be only due to one person, although an exceptionally talented one. In this report, I am going to reveal what the secret of this company’s success is. Strategy Statement Among the company’s strategic goals are to keep its position as the leading producer of high-end beauty products and to ensure “the profitable growth over the long-term” (2017 Annual Report). Their key competitive advantage is the ability to influence consumers’ preferences. As explained by the company’s President and CEO Fabrizio Freda,…show more content…
“By "The best", we mean the best products, the best people and the best ideas. These three pillars have been the hallmarks of our Company since it was founded by Mrs. Estee Lauder in 1946. They remain the foundation upon which we continue to build our success today”. (William P. Lauder Executive Chairman, 2017 Annual Report). Estee Lauder managed to understand what is the best for its customers. It was about creating experiences, educating customers, knowing what would make them more beautiful, surprising them. Being the best in everything they do reflects the overall atmosphere of challenge in the company, the urge to always outperform themselves and the
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