1 of the Biggest Reasons Behind Estée Lauder Stock's Plunge
Estée Lauder(EL) The Motley Fool·2024-11-09 22:18The company made a big bet on a fast-growing international market that has taken a turn for the worse.For decades, the beauty sector seemed unflappable. Companies expanded to international markets where people had increasing amounts of disposable income to spend on fragrance, skincare, and makeup products. Global population growth -- especially in Asia -- was another major tailwind. This is how leading beauty conglomerate Estée Lauder (EL -3.63%) grew to a market cap of over $100 billion a few years ago.Tod ...