Americans are turning to cosmetics and fragrances to beat the inflation blues in a trend called 'the lipstick effect' that could keep the beauty market's post-pandemic rebound alive and help quarterly sales for Estee Lauder and Coty .
Morningstar Research analyst Rebecca Scheuneman said she expects higher-end makeup and fragrances to be particularly resilient as higher-income clients remain mostly immune to inflation.
Lipstick fits the bill for those seeking a confidence boost without breaking the budget, when compared with expensive luxury products such as handbags, said Kunal Sawhney, chief executive officer of equity research firm Kalkine Group. Estee Lauder's Tom Ford lipstick is priced at roughly $58 in the United States, while the Gucci Rouge à Lèvres lipstick made by Coty costs $42.* CoverGirl cosmetics maker Coty is expected to report fourth-quarter sales of $1.14 billion, a 7.4% increase from a year earlier, according to analysts polled by Refinitiv.
* Estee is expected to report fourth-quarter sales of $3.44 billion, a 12.7% decrease from a year earlier.* The current average rating of 26 analysts on Estee stock is "buy", with 18 analysts having a "buy" or higher rating.* The current average rating of 14 analysts on Coty is "buy", with six analysts having a "buy" or higher rating.Register now for FREE unlimited access to Reuters.
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