Jim Cramer is bullish about cosmetic maker Estée Lauder. He spoke to Fabrizio Freda, chairman, and CEO of Estée Lauder Cos. ( (EL) – Get Report) following the company’s strong earnings report in February.
TheStreet continues its month-long video series: Women’s History, Wall Street and Beyond celebrate Estée Lauder, her perseverance and determination to transform the beauty industry.
Estée Lauder’s History:
Born in New York City, Josephine Esther Mentzer was nicknamed Esty by her father, which was changed to Estée in school. She took lessons on grooming from her mother, Rose.
Estée married Joseph Lauder in 1930–it was the first time she ever used lipstick.
The couple began producing cosmetics in 1946 – they first carried only four products: Cleansing Oil, Skin Lotion, Super Rich All-Purpose Creme, and Creme Pack.
Two years later, in 1948 they established their first department store account with Saks Fifth Avenue in Manhattan.
In 1960, the company started its first international account in the London department store Harrods.
In 1964, they introduced Aramis, a line of fragrance and grooming products for men named after an exotic Turkish root originally used as an aphrodisiac.
This was followed by a Spirit of Achievement Award from Albert Einstein College of Medicine at Yeshiva University in 1968.
In the 1990s, brand acquisitions and licensing agreements contributed to explosive growth as the company transformed from a family-owned business to a publicly-traded, family-controlled organization.
In October 1992, the BCA campaign was launched by Estée’s daughter-in-law, Evelyn Lauder who co-created the “Pink Ribbon” as a symbol of breast health.
On November 16, 1995, The Estée Lauder Companies went public on the New York Stock Exchange at $26.00 a share ($6.50 on a post-split basis).
The company ventured into its first hair care and holistic beauty brand with Aveda in 1997.
On July 1, 2010, the company acquired Smashbox Beauty Cosmetics, Inc., a brand created in Smashbox Studios in Culver City, California.
Estée Lauder Companies currently owns 25 major brands and products are sold in 150 countries.
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