Word: lauders
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Steve Forbes, Ross Perot, Ron Lauder, Michael Huffington: Millionaire political novices running self-financed campaigns tend to stir up more chuckles than consternation - as long as they lose. But ex-Goldman Sachs honcho Jon Corzine put $34 million of his own money into all the right pockets. He greased New Jersey Democrat "party-builders" and got out the vote instead of blowing it all on advertising (though he did plenty of that too - $34 million allows you a certain flexibility). He broke all records for Senate campaign spending, and the main event is yet to come...
...Estee Lauder CEO Fred Langhammer, who has been mulling his Net strategy since last year, is smelling like a rose as he snaps up premium Web real estate at a bargain price. His reported $20 million purchase of gloss.com cost half what it would have to build a similar site from scratch. As many as 13 Lauder brands will be available on the revamped site early next year. Additionally, department stores such as Macy's and Neiman Marcus can play host to "micro-sites" for those brands on their own Web premises. But why didn't Lauder buy Eve.com currently...
...divine. From cantaloupe-infused bath gel to honey-colored body glitter to chocolate-brownie-scented nail polish, there's enough to sate even a modern-day Cleopatra--or a Marilyn Manson, for that matter. But try stocking up on your favorite moisturizer by Clinique or black eyeliner from Estee Lauder and you're out of luck...
That's because Estee Lauder Inc., which controls some 50% of the $7 billion prestige beauty market and owns top brands such as Clinique, Origins and M.A.C., refuses to sell to independent sites. At the height of the e-tail start-up boom last fall, such niggling details didn't matter. Like most other e-commerce ventures, the beauty sites were thinking only about getting big, fast. Sooner or later, they thought, the big brands like Lauder, Lancome and Chanel would come on board. "The start-ups' lack of knowledge was painful," says Allan Mottus, an analyst who consulted...
...million in European sales. The larger houses, which frequently sell cosmetics and skin-care lines as well as perfumes, especially value fragrances for their ability to entice shoppers to other products in the franchise. "When you can bring a customer to the counter because of a scent," says Lauder's Khoury, "she's much more open to considering treatment or makeup products." All the more reason for the perfume counter to grow even more crowded...