Leonard A. Lauder Honored With Retail Excellence Award
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A who’s who of luminaries from the retail, fashion and finance sectors turned out on Monday night to honor Leonard A. Lauder with the Retail Excellence Award cohosted by the Baker Retailing Center at the University of Pennsylvania’s Wharton School of Business and the Retail Leaders Circle.
Lauder, who announced earlier this year he’ll step down from the board of directors of the Estée Lauder Cos. when his current term expires in November, was feted by designer Tory Burch, Neiman Marcus CEO Geoffroy van Raemdonck, Saks CEO Marc Metrick and Lauder’s son, William P. Lauder and niece Jane Lauder, among many others, with introductory honors handled by Pfizer’s chief corporate affairs officer Sally Susman and MidOcean Partners chairman Matt Rubel.
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“Leonard has been a true beacon and force in building a vibrant and special global beauty company with his family and team,” said Rubel. “Yet he did so much more in creating a culture of learning, love, courage, personal accountability, humanity and appreciation.”
Rubel recounted traveling with Lauder, and noted that no matter how early he arose, Leonard Lauder would already be dressed and in the lobby, ready to go, before anyone else was down. “He was either meeting with a local retailer, supplier or Lauder leader. To Leonard, no trip was complete without spending time and building relationships and elevating others,” said Rubel. “Relationships are the foundation of what has made the Estée Lauder Companies vibrant now in its third generation of family leadership.”
Susman experienced firsthand the power of Lauder’s relationship building during her time at the company as head of corporate communications. One key lesson: go the extra mile, which for Lauder, “isn’t just a figure of speech,” said Susman, recounting one evening when Lauder insisted on giving her a ride home despite the fact that she lived all the way downtown and they were just six blocks north from his apartment. “The man went far out of his way, as he always does, showing his incredible concern for others,” she said.
She, too, spoke of the incredible connections that he forged with others, which taught her that business must be a “deeply humane pursuit.”
“He knew the power of being in a company that felt like a family,” said Susman, who noted she still remembers the first time Lauder called her “darling.”
“I was rattled — I wasn’t used to being called that by my boss,” she laughed. “But I came to understand that in every way, including language, this company was not a set of spreadsheets or an obsession with profit margins. It was always about the people. Even for those of us with different last names, it felt like a family.”
Lauder’s reciprocation of the love for the people in the room was apparent during his acceptance remarks. “Attending the Wharton School was one of the best decisions I ever made,” he said. “And so, it’s a huge thrill all these years later to have received the Retail Excellence Award from the Baker Retailing Center. If you’re in the business of retail, this is as prestigious as it gets, and I’m grateful to the center for this recognition.”
He shared a favorite story about weekly lunches he used to have with his father, Joseph Lauder, at the Tip Toe Inn, when he’d order crab salad, a turkey sandwich and dessert — always the most expensive items on the menu. “My father used to say, you eat like a buyer!” Lauder said.
He told of his time at Wharton, too, and how his father questioned his decision to join the U.S. Navy after graduation. Noting that it was there that he learned lifelong lessons about leadership, he said, “I always thanked my father for sticking with me. Always do what’s right for you — think about where this is going to take you. Start with ‘Yes,’” Lauder said. “Overcome the ‘No’s. ‘Yes’ will get you everywhere all the time.”
Lauder, an engaging speaker who couches deep insights in conversational anecdotes, was true to form, sharing the wisdom he’s learned along the way. “If you do something, make it big — make it great,” he said. “People don’t work for money. They work for recognition,” and concluding with, “No one learns from being told how bad they are — they learn from being told how good they can be.”
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