Estee Lauder, creator of the multi-billion pound cosmetics business, has died at her home in New York aged 97.

Born in Queens, NY, in 1908, Josephine Esther Mentzer – Estee being short for Esther and Lauder being derived from her husband's name, Lauter –  began her career by selling creams created by her uncle, John Schotz.

In the late 1940's, she set up a counter in New York's Saks Fifth Avenue, this being followed over time by outlets in other prestigious department stores in the city.

In 1953 the company introduced Youth Dew, its first perfume and the forerunner of the company's current wide range of makeup, skincare products and fragrances.

Last year, Estee Lauder's sales across the world were reported to be nearly £3bn, a testament to the founder's belief that "beauty is the most important thing in life".