Estee Lauder heiress forms cosmetics collaboration
The deal will see her company, Aerin LLC, collaborate with the world leading luxury cosmetics brand in a bid to help launch her own luxury lifestyle brand, which on top of cosmetics, will also include accessories, eyewear, jewelry and home products.
Although the exact terms and conditions of the agreement have not been revealed, the Estée Lauder company said that the new lines would be sold at select Estée Lauder counters, while the Aerin company name would remain stand alone.
“As I launch this new business, I am excited to have the extraordinary team at Estée Lauder as my partner in creating a beauty collection that will reflect my new brand's style and spirit,” said Aerin Lauder.
A family tradition
Aerin Lauder is the daughter of Ronald Lauder, son of company founder Estée Lauder. He worked on the executive board at Estée Lauder from the mid 1960s until the mid 1980s.
She is also cousin to Estee Lauder’s current chairman of the board of directors, William Lauder, who held the position of CEO until mid-2009, when he passed over the reigns to Fabrizio Freda.
“Aerin is following her vision with her innate style and creativity to expand her brand-building skill to new luxury and prestige products,” said William Lauder.
Building on global brand growth
Estée Lauder has been enjoying significant growth in the luxury cosmetics category, thanks mainly to a strategy that has jointly concentrated on growth in emerging markets and natural cosmetics.
Last month Estée Lauder announced it had signed an exclusive product license and supply agreement granting the cosmetics company the rights to any groundbreaking discoveries with Unigen.
The natural ingredients company signed the deal, of which financial details have not been disclosed, with an Estée Lauder subsidiary relating to the development and commercialization of its proprietary natural ingredients.
