Fabrizio Freda, president and chief executive officer of The Estée Lauder Companies, demonstrated how to promote products globally to diverse market segments during a February 1, 2012, conversation with students at Georgetown University’s McDonough School of Business. The discussion initiated a series of recruiting events hosted by the Undergraduate Program and the newly formed McDonough Retail and Luxury Association (MRLA).
“Globalization cannot be about standardization. Globalization is about relevance,” Freda explained to the crowd of nearly 300 students, alumni, faculty, and staff in Lohrfink Auditorium in the Rafik B. Hariri Building.
During the hour-long conversation, Freda shared his analogy of “putting the boat in the wind” to point your company in the direction of growth – even if the overall economy appears stagnate. He shared product trends in the cosmetics industry, highlighted strategies necessary for growth in today’s fluid and global marketplace, and illustrated the diversity of luxury consumers.
“We define luxury within beauty as superior quality products accompanied by high-touch services and distributed in locations where women shop for themselves,” Freda said.
The event connected The Estée Lauder Companies with students, as executives accepted resumes and interviewed undergraduate candidates during their two-day visit to campus. Students were invited to apply for the new Presidential Associates Program, a one-year training program for recent graduates, as well as an International Presidential Associates Program, which recruits students interested in working in China or Brazil.
Norean Sharpe, senior associate dean of the undergraduate program, introduced Freda as a “results-oriented, change-agent” who has had an enormous impact on the strategic direction of the company in the last few years; Estee Lauder is now second only to L’Oreal in the cosmetics industry.
The event is the result of a new partnership with The Estée Lauder Companies that will lead to an increased connection between faculty and students at Georgetown McDonough and executives at the company, with a focus on opportunities for internships and full-time positions for both undergraduates and MBAs. The student-led McDonough Retail and Luxury Association strives to further these connections and to bring the industry closer to the university. For more information on this organization, contact MRLA.Georgetown@gmail.com.