(CNN) -- Aerin Lauder recently launched her own Private Collection fragrance in New York as a tribute to her grandmother, Estée Lauder.
Aerin Lauder at the launch of Private Collection in Saks department store, New York
She unveiled the fragrance at upscale department store, Saks, the site of Estée's Private Collection launch more than three decades earlier.
"It is true that Estée launched her actual original Private Collection in 1973, in this exact store, so it's a very wonderful tribute to her to be doing it again today," Aerin Lauder said.
As Creative Director of the Estée Lauder brand, Aerin Lauder is in charge of all of its presence from marketing to merchandising.
But for Lauder, who is also the face of the Private Collection campaign, injecting new life into her grandmother's fragrance has been about more than savvy marketing.
"I also knew Estée and I think that's very unique because I was taught by her so many wonderful things. The importance of good skin and taking care of your face, and every woman should wear just a dab of fragrance," Lauder told CNN.
Lauder believes it is important to pass on Estée's beauty philosophies and show people why they continue to be relevant today.
"Estée always said 'If you're pretty on the inside, you're pretty on the outside'," said Lauder.
These beliefs led Estée Lauder to start a beauty business with four skincare products from her kitchen in Queens, New York in 1946.
Today, Estée Lauder Inc is a global company encompassing nine thousand products under a portfolio of 24 brands. Last year the company reported $6.75bn in net sales.
Aerin Lauder is also a well-known face in American high-society and her image and reputation attract Estée Lauder's target audience.
"I think I really bring a sense of soul and a sense of style to the brand," she said.
She is also famous for marketing coups like the high-profile advertising collaboration with actress Gwyneth Paltrow.
"Actually Aerin Lauder was one of the main reasons I signed with them...there's something about her that's so elegant and stylish," Paltrow told CNN.
Lauder's Private Collection campaign hopes to bring in an estimated $7m in sales this season. E-mail to a friend 
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