Leonard A. Lauder launches cosmetics scholarship fund with FIT

Fashion school the Fashion Institute of Technology (FIT) in New York has announced a new one million dollar scholarship in collaboration with Leonard A. Lauder, former chairman of global cosmetics giant the Estée Lauder Companies (ELC), as per a press release shared by the school.

The new FIT opportunity, entitled ‘Scholarship in Cosmetics and Fragrance Marketing’, will be awarded each year to four undergraduate students enrolled in the Cosmetics and Fragrance Marketing (CFM) programme at the New York institute.

In order to apply for the scholarship, students must have a Grade Point Average (GPA) of 3.0 or above.

According to the release, FIT’s bachelor programme in Cosmetics and Fragrance Marketing is one of the only undergraduate programmes in the US that focuses on cosmetics and fragrance.

“FIT graduates contribute significantly to the creative and business economy, including the beauty industry. I’m thrilled that even more future leaders in the cosmetics and fragrance industry will be able to get their education at FIT through this scholarship,” Lauder said in a statement.

He continued: “These graduates have an extraordinary impact in our industry, and The Estée Lauder Companies is fortunate to have many wonderful FIT graduates among our employees.”

Joyce F. Brown, president of FIT, added: “The Leonard A. Lauder Endowed Scholarship will provide students with remarkable support and further deepen the longstanding relationship we hold with Leonard Lauder and the ELC.

“We are grateful to have received such a significant and thoughtful gift that will allow deserving students the opportunity to participate in one of the college’s most distinguished programs.”