Running A Successful Global Business
What You Should Know
Aerin Lauder may have inherited one of the most famous surnames in the beauty industry, but when it comes to business, she would like to be a household name in her own right.
A wearer of many hats (and very stylish ones at that), Lauder, 46, is a mother, businesswoman and global entrepreneur. As style and image director of the now 70-year-old company Estée Lauder, Lauder has worked in a variety of roles for more than two decades, carrying on the legacy of her late grandmother, Estée Lauder herself.
But in 2012, Lauder, who has a personal net worth of $2.2 billion, decided it was time to put her name to something of her very own, launching Aerin, her own international lifestyle and beauty brand separate to Estée Lauder (which includes global beauty brands like Clinique, Bobbi Brown and La Mer, all part of Estée Lauder Companies, which generated $11 billion in net sales in the 2015 financial year).
Given her last name (and the branding), some say it is a ”vanity” project. But according to Lauder, “I had to prove myself as a businesswoman.” Behind the scenes, Lauder currently runs a team of 23 headquartered in New York, with a presence in 25 countries – and as part of the brand’s international expansion, Aerin’s home collection is due to launch in the U.K. this fall, before expanding to Korea and the Middle East for the first time.
And it all started with the simple idea of being herself. “Although beauty is my heritage, home and accessories are my true passion,” says Lauder.
Beauty products and fragrances feature in the Aerin collections, alongside home and fashion accessories. But the key is that the brand reflects Lauder’s own personal style as a mother and businesswoman, and that is what customers are buying into on a global scale. “Every object we create must tell our story in a way that’s personal and resonates with the modern woman, whether she is 20 or 70 years old,” she says. “Naturally, the story is partly about my heritage, but it’s also about my life as a wife, mother of two teenage boys, living in New York, running a company and being engaged with my community.”
But running a global brand – and working for one – is surprisingly about the little things, such as keeping the connection to your customer personalized, keeping your work/life balance in check and staying in touch with local markets around the world.
Source: forbes
Patty Block, President and Founder of The Block Group, established her company to advocate for women-owned businesses, helping them position their companies for strategic growth. Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business. The Block Group brings together the people, resources and ideas that build results.
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