Estee Lauder 2003 Annual Report Download - page 9

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08
Over the years, we’ve insisted on being the best innovators and coming to the marketplace first with new
ideas. Hundreds of scientists in our laboratories collaborate with researchers at universities and medical
institutions around the world to find breakthroughs in dermatology, biophysics, molecular biology, immunology
and chemistry.
Our research insights led to this year’s major launch of Clinique’s revolutionary and patent-pending
Repairwear,which optimizes the skin’s natural repair processes while you sleep. We call the line’s three
products (Repairwear Intensive Night Cream, Repairwear Intensive Night Lotion and Repairwear Extra Help
Serum) the “Dream Team”— and they’ve been a dream come true for consumers and retailers alike.
At the Estée Lauder brand, our scientists triumphed by creating the brand’s most technically advanced
volumizing mascara: MagnaScopic Maximum Volume Mascara. Its newly patented formula builds up the
lashes, magnifying them up to four times their original thickness, with-
out weight or clumping, through a unique lofting complex called
Expandex and its dedicated Speed-Meter Brush. Color is intensified
by 30 percent. Mascara has become enormously competitive this
year with one major magazine referring to “The Mascara Wars.” With
our innovation,we are emerging as a leader in the mascara business.
Our legacy in innovation — with our drive to be first to market — has given rise to a funny saying that I often
hear around the industry: “Follow the Lauder.”
Integrity and a high standard of ethics have always been cornerstones of our Company. Sadly, we’ve seen
many major companies falter over the last couple of years because of lapses in integrity. At The Estée Lauder
Companies, we strive to keep the precious faith of our stockholders, customers, suppliers, consumers and
employees by always being fair, transparent and ethical.
KEEPING OUR “FOUNDING VISION” ALIVE TODAY
Our mission is to keep that founding vision alive and vibrant today. Our traditions are reinvigorated by attract-
ing and retaining the best people, taking inspiration from ideas generated all over the world and holding
a leadership position in this dynamic industry.
People want to come to work for The Estée Lauder Companies, and they want to stay. I believe our
retention
rates far exceed the industry average. At our Company, most employees find more than a job —
they find a home.
WE DO NOT WAVER FROM
OUR CORE PRINCIPLES OR
CHOOSE A “FLAVOR-OF-
THE-MONTH” SET OF
MANAGEMENT PRIORITIES.