The Estee Lauder Companies Inc Class A

EL: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$178.00	Cnvv	Twjrtqjx

Wide-Moat Estee Lauder Has Been Hit Hard by Slow Travel Retail, but Long-Term Growth Intact

David Swartz

May 8, 2023

Business Strategy and Outlook

We believe Estee Lauder has earned a wide moat, based on its valuable portfolio of global leading brands, its preferred status with its channel partners in department stores, specialty beauty outlets, travel retail locations, and a scale-based cost advantage.

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