Assignemt 4 ,investing - Essay Example

The company places significant importance on innovation. This gives the company a cutting edge in comparison to its competitors. M.A.C cosmetics also defined as Makeup-Art and Cosmetics. The company was initiated by Frank Toskan and Frank Angelo in the year 1984. The concept of M.A.C was perceived initially by Frank Angelo. Toskan was a celebrated makeup artist and Angelo was the proprietor of chain of hair salon. The common interest in fashion shared by both brought the two together in creating the brand M.A.C.

Angelo and Toskan realized the need of a reliable make up brand in the market. Both recognized the need of a makeup brand that was durable, creative and versatile. The makeup was mostly aimed for the makeup requirement at photo shoots. Estée Lauder in 1994 gained the controlling interest in MAC and the acquisition was settled in 1998. M.A.C is now one of the celebrated brands of Estée Lauder. In 1994 the MAC AIDS was introduced. The year before MAC was acquired by Estee Lauder Frank Angelo due to health complications passed away and Toskan also chose to exit from the company.

MAC religiously donates 100% of their selling profit from their brand Viva Glam to the MAC AIDS fund. John Demsey was appointed at the post of Group President in the year 2006. He is currently responsible for the brands M.A.C, Sean, John, La Mer, and Jo Malone, Bobbi Brown, Prescriptives under the Estee Lauder group. In the year 2005 Mr. John Demsey was appointed as Global Brand President of Estee Lauder after his appointment as the President and Managing Director of M.A.C from the year 1998.

From the year 1991 till 1998 Mr. Demsey has held several positions with Estee Lauder, including the post of Senior Vice president of Sales and Education (Estee Lauder, USA & Canada). Before joining Estee Lauder Mr. Demsey worked for Revlon, Alexandra de Markoff , Lancaster cosmetics and Borghese Mr. Demsey currently also holds several executive retail positions