The Briefing Tyler Brûlé is joined by William P Lauder – the third-generation leader of the Estée Lauder Companies
Dec 26, 2025
William P. Lauder, Chair of the board at Estée Lauder Companies and a third-generation leader, shares insights on the evolution of the beauty retail landscape. He discusses how online shopping has reshaped consumer experiences and the importance of in-store engagement during the holiday season. Lauder reveals cultural differences in shopping patterns between North America and Asia, and emphasizes the art of selling. He also explores career advancement within retail, highlighting Estee Lauder's robust training programs and strategic acquisitions to enhance product offerings.
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Retail Is Now A Choice, Not A Given
- Retail has become a choice-driven landscape as internet shopping expanded consumer options.
- The best physical retailers win by creating entertaining, sensory-rich experiences that make shoppers return.
Beauty Still Demands A Sensory Experience
- Beauty remains a sensory category where consumers still prefer to try products in person.
- Online browsing drives discovery but often leads to abandoned carts and store visits for sampling.
Department Stores Survive Through Spectacle
- Department store relevance varies by culture and has declined in parts of North America.
- Exceptional department stores survive by overloading the senses and offering entertainment and activities.