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When the Estee Lauder group acquired licensing rights to the Michael Kors brand in 2003, loyal clientele of each braced themselves for revolutionary innovations. The two companies were started decades apart, yet they are all too similar, even with their humble beginnings. Estee Lauder, like Michael Kors, got her start in a Manhattan department store. In the 40s, Lauder got the nod from Saks Fifth Avenue bosses, allowing her to put up a kiosk where she could sell skincare products and perfume.
In the 70s, Kors, too, got his break when he was allowed to sell some of his creations at Bergdorf Goodman. After gravitating toward the partnership with ELC, it was only natural for the Kors brand to diversify toward makeup. With the experience of the Lauder group, Kors makeup products are finding its way through department store shelves to New York women’s purses.
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Recently, the partnership was fostered by another department store giant. Macy's newly launched Michael Kors collection presents the brand's Sexy Amber eau de parfum, bronzers, lip luster, lip lacquer, and nail lacquer all exclusively available through its department store partner. In signature Lauder and Kors marketing style, these items are being sold at mid-range luxury. Makeup is priced at $24, while nail lacquer is sold for $18 a bottle. Fragrances are either $75 for 1.7 ounces, or $95 for 3.4.
The two brands trace their humble beginnings from the same borough in New York, and now they are some of the most notable companies in the cosmetics industry. Consumers expect to see more innovation and collaboration from the two in the years to come.
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Being Estee Lauder’s grandson, William Lauder owes his leadership of the Estee Lauder Companies to legacy as much as he does to a commendable career and academic background in business. Read more about his hard-earned ascent to the head of the family business on this website.
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