The Company I Keep: My Life in Beauty

by Leonard Lauder

The former CEO of The Estée Lauder Companies, Leonard A. Lauder, shares the business and life lessons he learned while turning the mom-and-pop company his mother founded into a multi-billion-dollar empire.

In 1958, the Estée Lauder company sold only a few products under one brand in just a handful of prestigious department stores across the United States and had annual revenues of about $800,000. Today, the company is one of the world's leading manufacturers and marketers of prestige skin care, makeup, fragrance and hair care products, with annual sales more than $14 billion. It has more than 25 brands, and its products are sold in over 150 countries and territories. That’s due to Leonard A. Lauder, Estée Lauder's oldest son, who envisioned and effected this expansion during a remarkable 60-year tenure, including leading the company as CEO and Chairman.

In this engrossing memoir, the leader now known as Estée Lauder’s “Chief Teaching Officer,” reflects on growing up with the company, from the struggles of the Great Depression and the heady decades of the post-World War II boom through the cutthroat rivalry with Revlon and L’Oréal and today’s global challenges. Lauder shares inside stories about the company and pays loving tribute to his mother, the eponymous founder, and offers keen insights on achieving success, learning from mistakes, and growing an international company in an age of economic turbulence, uncertainty, and fierce competition.

Genres: Business, Biography, Nonfiction, Autobiography, Memoir, History, Audiobook

432 pages, Hardcover

Published November 17, 2020

About the author

Leonard Alan Lauder was an American billionaire, philanthropist, art collector. He and his brother, Ronald Lauder, are the sole heirs to the Estée Lauder Companies cosmetics fortune, founded by their parents, Estée Lauder and Joseph Lauder, in 1946. Having been its CEO until 1999, Lauder was the chairman emeritus of The Estée Lauder Companies Inc. During his tenure as the CEO, the company went public at The New York Stock Exchange in 1996 and acquired several major cosmetics brands, including MAC Cosmetics, Aveda, Bobbi Brown, and La Mer.
In 2013, Lauder promised his collection of Cubist art to The Metropolitan Museum of Art. The collection is valued at over $1 billion and constitutes one of the largest gifts in the museum's history.
Bloomberg Billionaires Index estimated Lauder's net worth at US$32.3 billion as of September 2021, the 44th richest person in the world.

Reviews

[Jayne · Rating 5 out of 5]

QUESTION:
How do you rate a compelling and insightful memoir/business biography penned by a brilliant and iconic visionary?

ANSWER:
All the stars!

When Leonard Lauder died on June 14, 2025, I was instantly intrigued by his obituary.

Of course, I had to read his memoir.

From start to finish, I "followed the Lauder" and was awed/wowed by Leonard Lauder's chronicle of how, under his leadership, The Estée Lauder Companies grew from a small mom-and-pop business to a global prestige beauty powerhouse.

In his memoir, Lauder was humble, bestowing endless praise to his mother, the eponymous founder of the company.

I especially enjoyed this legendary brand builder's stories about his cutthroat rivalry with Revlon's Charles Revson, as well as his keen insights on leadership, honing ambition, leveraging success, creating competitive brands within the company, and learning from mistakes.

I was also personally touched by his devotion to his wife of 52 years and his generous charitable donations.

Lauder believed art and education belonged to everyone, in addition to championing the fight against diseases such as Alzheimer’s and breast cancer.

And, finally, I applauded Lauder's decision to join the Navy after being rejected by Harvard Business School.

Lauder repeatedly credited the Navy for providing him with the best possible education in leadership, decision making, teamwork, creativity, and standing for something greater than oneself.

I listened to the audiobook, expertly narrated by Arthur Morey.

I always prefer an audiobook memoir read by the author.

At age 90, it was understandable why Leonard Lauder did not read this 12-hour audiobook.

One of my besties of 2025.
⭐⭐⭐⭐⭐

[Rishabh Srivastava · Rating 4 out of 5]

I wouldn’t ordinarily have read this book (no interest in the beauty or CPG industries whatsoever), but picked it up after a raving review from a friend. Glad I did so. Loads of takeaways:

1. Free samples that work and solve a customer’s pain point are the most effective way to do direct sales. They lead to both reciprocity and brand loyalty

2. In making sales requests, never ask “May I help you?” Instead, say “I have something that would work perfectly for you. May I show you how to apply it?”

3. Never teach a person by himself. Always teach them in 2s or 3s, so that they can also teach and learn from each other

4. When a person with experience meets a person with money, pretty soon the person with the money will have the experience, and the person with the experience will have the money

5. When trying to compete with existing giants, don’t compete in the same category — invent a new ones. EL invented the category of bath oils instead of competing with the French giants on perfume. Because they were sufficiently different in their messaging, both consumers and their competitors did not regard them as competing in the same space

6. If you have the reputation for being a “hot” and fast growing brand that really helps customers, you’ll start getting a lot more inbound leads

7. The product is the positioning. Competition will be efficient and will copy you. Know where your staying power is. Have a differentiated perception. Sex vs romance. Hot vs classy etc

8. Some products are like Fragrance, where if a user buys it once and likes it, they’ll buy it again and wear it forever. Moreover, they will buy other products from the same brand. Identify these products for your business

9. Never get stuck in the middle. If you’re in the middle, you’re nowhere. You’re neither in the value line or in the prestige line

10. Your brand is defined by distribution. If you’re in luxury, stay in luxury. Don’t be bewitched by the volume that defines a massmarket brand

[Lisa · Rating 4 out of 5]

I’m working through a number of beauty & retail customers at the moment. So, of course, I am wandering through the book aisle as part of getting up to speed.

What a surprise to find such a gem from the son of Estée Lauder, Leonard. The story about his family, his involvement in the business from an early age, how he fought the Revlon/Lancôme wars, and the evolution of his leadership style and strategy was told with warmth and skill.

He addresses his partners in business and life, and his philanthropic endeavours.

This holds valuable lessons for business and strategy overall, but especially if you’re involved in beauty retail.

[Holly Heuthorst · Rating 5 out of 5]

Leonard Lauder has many insights.
My favourite take away was Newtons Law - an object in motion, stays in motion.
Also, he is a fine example of the importance of being thankful, of being charitable, of being all in, in every thing you do!
You do not have to be in Business to enjoy it.

[Cedric Chin · Rating 4 out of 5]

Absolutely fantastic. Early Estée Lauder was built without selling equity, and with very little debt. I got three important things out of this book: the first, an additional “pattern” of what it looks like when you grow a company from retained earnings.

Second, what it feels like when you have to put together a brand marketing strategy from scratch, relying on nothing more than instinct and ‘common sense’. (Brand marketing as an idea hadn’t been invented when Leonard Lauder started in business!)

And third, the notion of ‘competing with yourself’ — Lauder started competing lines, and then acquiring competing brands, because he recognised that no brand could be everything to everyone ... especially when the core demographic matures.

What a wholesome business book!

[Alexandra Trower · Rating 5 out of 5]

I loved this book so much! Leonard Lauder is a master story teller and an icon in so many ways. In this great read, he takes us through the building of The Estée Lauder Companies working closely with his mother Estee. So many gems of knowledge, fabulous insights and terrific stories. One thing is very clear — he has always been an incredible champion of women. Charming, fun and so well done. Perfect holiday read and gift.

[Sara Rathjen · Rating 4 out of 5]

Great, well written story about Leonard Lauder, his mom and dad, and the Estée Lauder Companies. I learned so much about that history as well as the history of New York, the US and the world during the development of the company. Told in a very engaging way. I also was interested to learn about his philanthropic efforts for parks, the arts, breast cancer and Alzheimer’s research.

[Thomas Hefke · Rating 4 out of 5]

Interesting insightful read.

Collected a couple of lessons:
- be first in the market
- observe yourself and talk to customers and resellers
- if you want to be a luxury brand. You have to manage distribution. be scarce. pick the right spots to sell

[Grace Lindsey · Rating 5 out of 5]

Such a fun book! Loved getting to see his journey and the transformation of the beauty industry.

[Seema Singh · Rating 5 out of 5]

Really enjoyed this book more than I expected. Great, genuine lessons.

[Ron Scheese · Rating 5 out of 5]

Just finished the autobiography/ business book "The Company I Keep: My Life in Beauty" by Leonard Lauder.

Mr Lauder is the son of Estée Lauder. For four decades, he was instrumental in taking this truly Mom & Pop business to a multi-billion international brand giant.

The book traces Leonard's life from depression era family struggles to a Wharton Business education to learning leadership through service in the US Navy. By the time the author joined the family business, he had accumulated plenty of life experiences, which he used to catapult the small business into an industry leader.

Not only are the pages a lifetime journey reflection, they contain robust recollections of critical business decisions from which the reader receives great insight in brand management, sales, customer service, marketing, valuing people, succession planning. Mr. Lauder is transparent and forthcoming with the anecdotes such that any reader will appreciate the lessons contained throughout but also neatly summarized near the end.

5 stars for a compelling business biography of a successful, ethical and generous leader.

[Firsh · Rating 2 out of 5]

I vividly recall yawning so hard that my jaw cramped up—a rarity for me. Perhaps there's a reason why I generally avoid movies and books in the Biography genre. Maybe if the subject is as intriguing as Elon Musk, it would be different. What's curious is that I own EL stock, yet I found this particular biography boring, whereas I don't own any TSLA stock, but I find books about Tesla far more engaging. However, I don't base my investments on stories but on fundamentals. The book simply reassured me that the company has solid roots and a sufficiently interesting history. The author delved into the family background, and I was surprised to learn of some Hungarian ties. Overall, I couldn't wait for the book to end. I even increased the playback speed to 2.3x, a rate I rarely exceed. I knew it wouldn't change my opinion about staying invested in EL. For me, it was entirely skippable and not fascinating enough to warrant a higher rating. I simply expected something better.

[Leigh · Rating 4 out of 5]

I actually listened to the audio version (not read by the author) and enjoyed the book much more than I expected. Mr. Lauder does come across as an appealing person. He seems to be an "overachiever" who is a wildly successful person in every aspect of his life: business, marriage and family, friends, philanthropy, and art collecting. So the book is something of a manifesto in how to succeed at capitalism and everything else in life. Clearly just for starters, Mr. Lauder is gifted with brilliance, fabulous social skills, and a great deal of self confidence, all of which have helped to take him to the level of a superstar.
I, as someone who is blessed with wonderful skin and has basically never done a thing to help it along, cannot help but wonder whether all those skin creams are really just "snake oil." Not surprisingly, he doesn't address that!

[Suzi · Rating 5 out of 5]

This is a very expensive book. He is such a good salesman I just bought about $300 worth of Estee Lauder fragrances and I never leave the house to wear them. And I got a free gift with purchase. For years I volunteered at a fragrance-free-zone museum but NOT NOW.
I love the book, the Estee Lauder story which I've read about in several other books, and his life and family.
No dirty laudry - or not much - mentioned. Charles Revson is the biggest baddie and I'd read that before, too.
Exuberant story and perfect for the holiday season.. Big business, big bucks, quality control. I'm hooked on Estee Lauder anyway. (I just realized I expected this to be in the special blue she picked out.)

[Judi Ross · Rating 4 out of 5]

I rarely read memoirs but the subject intrigued me. Leonard Lauder is the son of the eponymous Estée Lauder. He has written not only the story of the company his mother founded and he expanded but also includes the history of the cosmetics industry in America. He takes us through his own life sharing the lessons he learned amidst the backdrop of what was taking place economically throughout the world. The chapters flow chronologically and Lauder, himself, has a good sense of humor that shows throughout. Although I often feel that memoirs are a bit self-serving, the facts in this one show that Lauder is truly a man who deserves to be admired. I learned quite a bit. I think any woman who wears make-up, even if it’s just lipstick, will enjoy learning about the industry.

[Yitty · Rating 3 out of 5]

Leonard Lauder tells the story of Estee Lauder and of his life. This is equal parts a memoir and business book - pointed business lessons are mixed into the larger storyline, which makes for compelling reading and gives rich context.

Spanning almost a century, the story of Estee Lauder provides a look into what the industry looked like in the early-mid 1900's and how it transformed into what it is today. The reader watches time pass, with styles and behavior changing in reaction to the times. Fascinating perspective!

The book is somewhat longer than it has to be, but the diverse topics such as life in the navy, 1930's New York City, grit and perseverance of various players, and the business itself make for a quick and enjoyable read.

[Tyler · Rating 3 out of 5]

Hard book for me to review as it's a story that I can't be impartial with. Stories about early life and the beginnings of Estee Lauder were really interesting to read about. But Lauder lost touch later on in the book with his chapters on philanthropy, "art collection", awful answer to nepotism and obliviousness to a company focused on making products for women accepting having a single women in the decision making room as a worthy target. Also holy rich people problems batman, people regret lots of purchases they do make, not just the $25,000 paintings they decide to pass on. Cool to learn more about the company that has meant so much to my family but I quickly lost interest.

[Marissa Murray · Rating 5 out of 5]

I may be biased but what a story! Equal parts memoir, history of New York City, detailed look on the beauty industry, a tribute to his mother the Estée Lauder, and reflection on his type of philanthropy - each chapter contained so many incredible nuggets of his experience and lessons learned, but always told in such an engaging way.

[Sally Hill · Rating 2 out of 5]

A great story that deserves to be told by a real biographer and not Leonard who takes credit for everything. I was distracted by the number of times I counted “I” on each page. You would think he was the only employee. Perhaps the story could be re-written with input from the thousands of employees who made the company great. Estée deserves better for all her hard work.

[Jonathan Ong · Rating 4 out of 5]

Interesting and engaging. Part biography, part Harvard business review - total joy to read.

Love the pictures

[Daniel Ottenwalder · Rating 4 out of 5]

Sales & Empathy (Ch. 1–2)
Estée Lauder’s core insight: empathize with your customers — especially women, whose growing income created new demand.
She sold aggressively and personally, often giving demos in salons while customers were seated under dryers.
Key tools: free samples, training staff to teach, and building confidence in both customer and seller.
The 4 C’s that defined her:
• Commitment
• Creativity
• Charisma
• Chutzpah
Distribution strategy began in beauty salons — not department stores — enabling intimate, referral-based sales.

Resilience, Wartime Marketing, and First Wins (Ch. 3–5)
Life went on during WWII — and Estée pivoted messaging: “Lipstick is why we fight.”
She remarried Mr. Lauder after initial separation.
Everyone advised against wholesale — but they pushed into Saks and other retailers by focusing on:
• Gifting best products as samples
• Direct mail as a scrappy alternative to million-dollar ad budgets
Core lesson: creativity trumps capital when you need attention.

Innovation, Recognition, and Listening (Ch. 6–8)
Leonard’s principle: “Compete with yourself and win.”
Power of recognition — learned from summer camp.
Breakthrough: Nieman Marcus buyer showed 100% conversion on perfume samples → sample push.
Fun fact: Leonard invented the flat-top lipstick (never patented).
Lesson: ideas keep coming, so keep moving.

Partnership & Love (Ch. 9)
Story of Leonard and Evie’s marriage: true partnership, not built on money but shared purpose.

Blue Ocean Thinking & Global Expansion (Ch. 10–11)
Broke into Europe post-war when others assumed no spending power.
Strategy: don’t just launch — create an event.
Created luxury-priced cream ($120) and everyday fragrance ($2), sidestepping traditional French perfume positioning.
Estée vs. Revlon → like Coke vs. Pepsi:
• Revlon was aggressive, mass-market
• Estée stayed premium and elegant
• Eventually, Revlon’s aggressive culture drove away talent; Estée endured

Strategic Pivots & Clinique’s Birth (Ch. 12)
Market shift: from urban department stores to suburban malls (like internet to e-commerce).
Clinique born to target a new generation of women wanting a break from their mothers’ brands.
Positioned as clean, clinical, allergen-free, and backed by a 3-step skincare regimen.
Clinique was complementary, not cannibalistic to Estée Lauder.

Legacy, Reinvention, and Market Segmentation (Ch. 13–14)
Fragrance marketing = romance + storytelling
Distribution defines the brand: originally luxury department stores → shifted to malls.
1970s credit cards opened up consumer access.
“Follow the money.”
Lancome War: market share matters more than profits in short term. Being private helped them move without investor pressure.

Family Business & Going Public (Ch. 15–16)
Let family get outside experience first.
Solve family problems early.
Went public to reduce intra-family financial obligations — but public markets brought new constraints.

Visionary Acquisitions & MAC/Bobbi Brown (Ch. 17–18)
MAC and Bobbi Brown were bought to reach new segments not resonating with traditional Estée Lauder.
Avoid:
• Celebrity brands
• Turnarounds
Look for:
• Momentum brands
• Clear consumer pull
Distribution power made the acquisitions work.

Philanthropy (Ch. 19–22)
• NYC playgrounds
• Global citizenship education
• Breast cancer advocacy (Evie survived cancer)
• Art & the Whitney Museum

Final Lessons (Ch. 23)
• Accountability: If you don’t care, no one else will
• Get women at the table — get customers at the table
• Always think long-term
• “No” just means how and when
• Praise in writing, criticize verbally
• Be in rooms with people smarter than you
• Cut loose ends early — let people thrive elsewhere
• Create your own competition before someone else does
• First-to-market wins — don’t fight in the middle
• Be for someone, not for everyone
• We can always learn more
• Always have a North Star — dream big, then work backward

[Susan Baranoff · Rating 4 out of 5]

Technically 4.5 stars for writing and 4.0 for narration. With Aramis being a cornerstone product, you'd think the narrator would know how to pronounce it or the production crew would have caught the error.

Esteé Lauder'son, Leonard, writes about his mother and the founding of her company. As a family business he was intimately involved since childhood in the inner workings. Leonard eventually rose to become CEO. His modern leadership style is one to be modeled.

Ironically, I was just talking with my family about where are the philanthropists? Who in the 21st century will build the libraries or the museums or the colleges? Leonard lauder is one of them. As it turns out this is far less a book about his mother per se and far more a book about good leadership through a turbulent times and principles of running a company that are not all about being a robber baron. Running a company founded by a woman that produces products specifically for women but also for men he brings a unique perspective 2 leadership. One of his key rules is always have a woman at the table. He would certainly be on my list of 25 people with whom to have a drink of you're ever in New York. And the proof of putting his money where his mouth is is in the closing line of the acknowledgments: "All author proceeds from the sales of this book will be donated to charity."

[Jwt Jan50 · Rating 5 out of 5]

First, I'm not the whiz when it comes to 'beauty' products. I'm somewhat familiar with some of the Lauder ads/products over the course of my lifetime. Came across a short article in a magazine (Esquire I think) some years ago which was a prelude/condensed version of this book. I was intrigued. Stumbled across this in a search re Buffet at the local library and because of the previous article gave it a whirl. Second, it's not great prose, but readable in a pleasant conversational tone. Third, this is not a 5* - closer to 7*. Unfortunately, most of the reading community is going to skip over this book. If you're not going to read it - at least check it out of the library and read chapter 23. His third leadership lesson - Never make an important decision without a woman at the table - alone is worth the price of admission. And, dare I say it - maybe the 11th commandment? Oh, did I mention Alzheimer? Breast cancer? Modern American art? And just how do you keep a family together in this crazy world? So, not better than chicken soup, but close.

[Simon Gianoutsos · Rating 4 out of 5]

A fascinating read told in an engaging manner about the history of the Estée Lauder brand and lessons learnt in growing a company.

Based on word of mouth advertising, demonstrating the product, providing free samples, targeting a rich clientele (inc. leveraging the client list of high end stores for marketing), Esther personally training sales people about the products and being a strong sales person was a key part of establishing the foundation of the company's success.

Leonard then further evolved the company with great leadership skills, brand positioning, creating new brands and more.

It was also fascinating to read about the cut throat nature that Revlon operated, and the launch of Clinique to target a different market segment and not reposition the Estée Lauder brand.

The transformative philanthropic work of Leonard and Evelyn was also inspirational to read.
4.25/5

[Nicole Jiang · Rating 5 out of 5]

One of the best biographies! The Lauder family’s story of building the beauty empire is the culmination of uncompromising mission, diligent business, unconventional mindset, and incredible compassion. After all the success, Leonard Lauder remains one of the most humble, grateful, thoughtful, and optimistic leader who would inspire any reader.

Highlights I learned from him: be the competition and don’t be complacent. Always listen. Value your people and relationships. Letting women/talented people live their potential. Quality is everything. Stay true of your brand, philosophy, and market. Create your collection and be first to market. Always hire people who are smarter than you. Remember to thank them!

[Tirath · Rating 5 out of 5]

Excellent book about the years and nuances that go into building luxury brands.
Good semi biography too.

Notes:
Luxury sold in the US even in the great depression.
During inflationary times, they held their prices while competitors increased theirs
Overdistribution can kill - wonder what that says about brands available online nowadays?
Revlon wars, and Lancome wars - v intg.
All brands can die.
Specialty department stores were egoistic, coveted and crowd pullers - they died
Leonard was a fanatic
Brands take time to grow - you have to give them years...
Leonard's mother was a fanatic - intg how the son slowly won the company?
Its never too late to find love
Your prized possessions are often your relationships.

[Winnie Wong · Rating 5 out of 5]

I spent the gift voucher my company gave us on books and I’m very picky on choosing memoirs, business & personal development books because they tend repetitive and often dry. But I am so glad I got it because it is absolutely fantastic. To be honest, this book is more than just a memoir. It is in itself a fantastic business book that also teaches you about life lessons. Leonard Lauder managed to encapsulate 3 genres into one beautiful book that I wholeheartedly recommend. It opens your thinking on business, commerce, relationships and my personal favourite…how to make tactful mistakes rather than strategic ones.

It is a truly a page Turner!!!

[Bonita Braun · Rating 3 out of 5]

Not what I expected. I didn’t read reviews when I purchased this on a whim. I’ve read about other luxury brands and thought this might be interesting because of the EL powerhouse brands, my interest in art and profession in marketing. But what a disappointment. It was very shallow. In regard to marketing, Leonard would talk about an interesting, risky decision but gloss over all the factors affecting the decision. The parallel he drew between his cubist art collection and the Estée Lauder brands was intriguing but he quickly described it with little insight.
He was a brilliant executive and his achievements are not to be ignored but this could have been so much better.

[Miriam · Rating 3 out of 5]

Lauder did a good job of detailing his life journey from his mothers start of the business through his turning over the reigns to the next generation. Where it fell short for me was Leonard’s lack of vulnerability. Without it, I couldn’t relate to him and therefore had minimal interest in what happened to him, his family and the company. He also comes off at times as being cocky even though he backs up the statements with facts. It’s really a shame as throughout the book he shows that he’s intelligent, a good leader and a caring human being.

[Anna F. · Rating 5 out of 5]

Absolutely superb and insightful. I genuinely couldn’t put it down! Loved how his story gave us insights to his upbringing, mother, success and of course, old New York. A must read for anyone in the beauty industry, reads on / from leadership or who loves the history of beauty. PS - I gave this to my former VP to read a couple years ago and she hasn’t given it back. When she left the company, I could’ve easily of reminded her to give this back to me but because this book is so iconic and valuable, I’m more than happy to purchase this again.