5 Best Global Luxury Stocks to Buy

2. The Estée Lauder Companies Inc. (NYSE:EL)

Number of Hedge Fund Holders: 44

Dollar Value of Hedge Fund Holdings: $1,639,856,100

The Estée Lauder Companies Inc. (NYSE:EL) is a New York-based cosmetics company that was founded in 1946 and operates in the luxury segment of the beauty industry. Along with the namesake brand, some of the luxury brands under the company’s ownership are La Mer, Tom Ford, and Jo Malone London. The company is focused on developing anti-aging skincare products, as the market is expected to compound at an average rate of 7.5% and reach a size of $120 billion by the end of this decade.

Here’s what ClearBridge Investments said about The Estée Lauder Companies Inc. (NYSE:EL) in its Q2 2023 investor letter:

We have refreshed our whiteboard and will look to take advantage of such downside earnings revisions among early cycle recovery plays in industrials and consumer discretionary. We are targeting quality themes in the consumer space where estimates have been partly de-risked, similar to the scenario that prompted the purchase of The Estée Lauder Companies Inc. (NYSE:EL) in the fourth quarter. Such names should be well-positioned to deliver improved earnings on the other side of an eventual recession.